First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $18.33.

FWRG has been the topic of a number of research analyst reports. DA Davidson cut their price target on shares of First Watch Restaurant Group from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday. Wall Street Zen raised shares of First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Guggenheim reduced their target price on shares of First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 7th. Weiss Ratings upgraded shares of First Watch Restaurant Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 29th. Finally, Freedom Capital raised First Watch Restaurant Group to a “strong-buy” rating in a report on Wednesday, July 1st.

Institutional Trading of First Watch Restaurant Group

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of First Watch Restaurant Group in the 2nd quarter valued at $58,445,000. The Manufacturers Life Insurance Company purchased a new stake in First Watch Restaurant Group in the second quarter valued at $49,291,000. Bank of New York Mellon Corp purchased a new stake in First Watch Restaurant Group in the second quarter valued at approximately $47,938,000. Dimensional Fund Advisors LP raised its holdings in shares of First Watch Restaurant Group by 19.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,084,886 shares of the company’s stock valued at $32,328,000 after buying an additional 508,704 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its holdings in shares of First Watch Restaurant Group by 18.1% during the fourth quarter. GW&K Investment Management LLC now owns 2,032,631 shares of the company’s stock worth $30,653,000 after purchasing an additional 311,938 shares during the period. 96.11% of the stock is owned by institutional investors and hedge funds.

First Watch Restaurant Group Price Performance

NASDAQ FWRG opened at $10.57 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.22 and a current ratio of 0.27. The company has a market capitalization of $652.27 million, a P/E ratio of 36.45, a P/E/G ratio of 17.62 and a beta of 1.05. First Watch Restaurant Group has a one year low of $9.88 and a one year high of $18.82. The stock has a 50 day moving average price of $11.81 and a 200-day moving average price of $11.82.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its earnings results on Tuesday, August 4th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.35%.The business had revenue of $354.67 million during the quarter, compared to the consensus estimate of $351.57 million. During the same quarter last year, the firm earned $0.03 earnings per share. The business’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities analysts predict that First Watch Restaurant Group will post 0.15 EPS for the current fiscal year.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc operates a chain of daytime restaurants specializing in breakfast, brunch and lunch. Its restaurants serve made-to-order meals prepared with fresh ingredients, including omelets, pancakes, avocado toast, salads, sandwiches and other contemporary daytime fare. The company also offers coffee, fresh juices and other beverages.

First Watch restaurants are designed around a daytime dining experience and generally operate during breakfast and lunch hours rather than offering dinner service.