First Watch Restaurant Group (NASDAQ:FWRG) Coverage Initiated at Stephens

Investment analysts at Stephens began coverage on shares of First Watch Restaurant Group (NASDAQ:FWRG) in a research note issued on Thursday, Briefing.com reports. The firm set an “overweight” rating and a $20.00 price target on the stock. Stephens’ price target would suggest a potential upside of 33.60% from the stock’s current price.

A number of other research analysts have also commented on FWRG. Guggenheim cut their target price on First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Bank of America lowered their price target on First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Barclays lowered their price target on First Watch Restaurant Group from $27.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus lowered their price target on First Watch Restaurant Group from $22.00 to $18.00 and set a “hold” rating on the stock in a research report on Tuesday, July 2nd. Finally, TD Cowen reiterated a “hold” rating and issued a $18.00 price target on shares of First Watch Restaurant Group in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

First Watch Restaurant Group Stock Up 1.4 %

Shares of FWRG stock opened at $14.97 on Thursday. First Watch Restaurant Group has a 12 month low of $12.90 and a 12 month high of $25.98. The firm has a market cap of $903.78 million, a PE ratio of 39.39, a price-to-earnings-growth ratio of 2.09 and a beta of 0.87. The stock has a 50 day moving average of $15.62 and a 200-day moving average of $18.01. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.33.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, August 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $258.60 million during the quarter, compared to analyst estimates of $257.65 million. First Watch Restaurant Group had a return on equity of 4.24% and a net margin of 2.51%. First Watch Restaurant Group’s revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. On average, equities analysts predict that First Watch Restaurant Group will post 0.34 EPS for the current year.

Hedge Funds Weigh In On First Watch Restaurant Group

Several hedge funds have recently added to or reduced their stakes in FWRG. Sunbelt Securities Inc. acquired a new position in First Watch Restaurant Group in the first quarter valued at about $65,000. SG Americas Securities LLC acquired a new position in First Watch Restaurant Group in the third quarter valued at about $119,000. Quent Capital LLC lifted its stake in First Watch Restaurant Group by 28.6% in the second quarter. Quent Capital LLC now owns 9,000 shares of the company’s stock valued at $158,000 after buying an additional 2,000 shares during the period. Janus Henderson Group PLC acquired a new position in First Watch Restaurant Group in the first quarter valued at about $226,000. Finally, LVW Advisors LLC acquired a new position in First Watch Restaurant Group in the first quarter valued at about $227,000. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc, through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc and changed its name to First Watch Restaurant Group, Inc in December 2019. First Watch Restaurant Group, Inc was founded in 1983 and is based in Bradenton, Florida.