First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives $21.09 Consensus PT from 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 company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.0909.

FWRG has been the topic of a number of research analyst reports. Wall Street Zen upgraded First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research report on Sunday. Zacks Research downgraded First Watch Restaurant Group from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. TD Cowen upped their price objective on First Watch Restaurant Group from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of First Watch Restaurant Group in a report on Wednesday, October 8th. Finally, Barclays increased their price target on First Watch Restaurant Group from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th.

First Watch Restaurant Group Price Performance

NASDAQ:FWRG opened at $17.92 on Wednesday. The company has a current ratio of 0.27, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.09 billion, a P/E ratio of 298.72, a P/E/G ratio of 5.87 and a beta of 0.87. First Watch Restaurant Group has a 12 month low of $12.90 and a 12 month high of $22.71. The business’s 50-day moving average is $17.20 and its 200 day moving average is $17.03.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its earnings results on Tuesday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The firm had revenue of $307.89 million during the quarter, compared to analysts’ expectations of $304.94 million. First Watch Restaurant Group had a return on equity of 0.69% and a net margin of 0.37%.First Watch Restaurant Group’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. First Watch Restaurant Group has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that First Watch Restaurant Group will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at First Watch Restaurant Group

In other news, major shareholder International L.P. Advent sold 4,400,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $17.67, for a total value of $77,748,000.00. Following the sale, the insider directly owned 5,289,784 shares in the company, valued at approximately $93,470,483.28. This represents a 45.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in First Watch Restaurant Group by 4.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,943 shares of the company’s stock valued at $282,000 after acquiring an additional 708 shares in the last quarter. Legal & General Group Plc boosted its position in First Watch Restaurant Group by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock valued at $730,000 after acquiring an additional 724 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of First Watch Restaurant Group by 207.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $31,000 after purchasing an additional 1,316 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in shares of First Watch Restaurant Group by 17.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,108 shares of the company’s stock worth $146,000 after purchasing an additional 1,341 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of First Watch Restaurant Group by 61.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock worth $70,000 after purchasing an additional 1,673 shares in the last quarter. 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.