Analysts Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) PT at $19.25

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $19.2727.

FWRG has been the subject of several research reports. Stephens reiterated an “overweight” rating and issued a $21.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, May 6th. Zacks Research upgraded First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. DA Davidson reiterated a “buy” rating and issued a $17.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday, April 28th. Citigroup decreased their target price on First Watch Restaurant Group from $26.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Finally, Benchmark decreased their target price on First Watch Restaurant Group from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, April 20th.

First Watch Restaurant Group Stock Up 0.9%

FWRG stock opened at $10.53 on Thursday. First Watch Restaurant Group has a twelve month low of $10.09 and a twelve month high of $19.53. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $649.17 million, a P/E ratio of 37.61, a PEG ratio of 5.40 and a beta of 1.06. The firm has a 50 day simple moving average of $11.60 and a 200-day simple moving average of $14.17.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $330.96 million for the quarter, compared to analyst estimates of $329.35 million. First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.38%.The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) EPS. On average, equities research analysts predict that First Watch Restaurant Group will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Matthew Eisenacher sold 6,070 shares of First Watch Restaurant Group stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $12.59, for a total value of $76,421.30. Following the completion of the transaction, the insider owned 69,983 shares in the company, valued at approximately $881,085.97. This trade represents a 7.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura Anne Sorensen sold 4,732 shares of First Watch Restaurant Group stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $12.59, for a total value of $59,575.88. Following the completion of the transaction, the insider owned 239,050 shares of the company’s stock, valued at approximately $3,009,639.50. The trade was a 1.94% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 68,013 shares of company stock worth $853,606. 6.10% of the stock is currently owned by insiders.

Institutional Trading of First Watch Restaurant Group

Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its holdings in shares of First Watch Restaurant Group by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock worth $730,000 after purchasing an additional 724 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of First Watch Restaurant Group by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 46,092 shares of the company’s stock worth $695,000 after purchasing an additional 832 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in First Watch Restaurant Group by 4.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 23,016 shares of the company’s stock valued at $360,000 after acquiring an additional 934 shares in the last quarter. Diversified Trust Co raised its stake in First Watch Restaurant Group by 4.7% during the 1st quarter. Diversified Trust Co now owns 25,654 shares of the company’s stock valued at $269,000 after acquiring an additional 1,154 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its stake in First Watch Restaurant Group by 0.5% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 310,837 shares of the company’s stock valued at $3,258,000 after acquiring an additional 1,450 shares in the last quarter. Institutional investors own 96.11% of the company’s stock.

About First Watch Restaurant Group

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.