Brokerages Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Target Price at $26.00

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) have been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $26.00.

A number of research firms have recently commented on FWRG. Citigroup upped their target price on First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Stifel Nicolaus upped their target price on First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Raymond James upped their target price on First Watch Restaurant Group from $23.00 to $25.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 25th. TD Cowen reaffirmed a “hold” rating and set a $26.00 target price on shares of First Watch Restaurant Group in a research note on Wednesday, April 10th. Finally, Barclays boosted their price target on First Watch Restaurant Group from $23.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th.

Insider Buying and Selling at First Watch Restaurant Group

In other First Watch Restaurant Group news, insider Eric Richard Hartman sold 1,474 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $25.03, for a total value of $36,894.22. Following the transaction, the insider now owns 51,417 shares in the company, valued at $1,286,967.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Watch Restaurant Group news, insider Eric Richard Hartman sold 1,474 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $25.03, for a total value of $36,894.22. Following the transaction, the insider now owns 51,417 shares in the company, valued at $1,286,967.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William A. Kussell sold 15,000 shares of First Watch Restaurant Group stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $20.53, for a total value of $307,950.00. Following the completion of the transaction, the director now owns 20,795 shares in the company, valued at approximately $426,921.35. The disclosure for this sale can be found here. Insiders have sold 7,091,741 shares of company stock worth $170,160,841 over the last quarter. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On First Watch Restaurant Group

Several institutional investors have recently added to or reduced their stakes in FWRG. JPMorgan Chase & Co. boosted its holdings in First Watch Restaurant Group by 6.0% in the first quarter. JPMorgan Chase & Co. now owns 21,373 shares of the company’s stock worth $279,000 after acquiring an additional 1,209 shares in the last quarter. Raymond James & Associates acquired a new stake in First Watch Restaurant Group in the first quarter worth about $535,000. Bank of New York Mellon Corp boosted its holdings in First Watch Restaurant Group by 30.7% in the first quarter. Bank of New York Mellon Corp now owns 26,998 shares of the company’s stock worth $352,000 after acquiring an additional 6,337 shares in the last quarter. Rhumbline Advisers acquired a new stake in First Watch Restaurant Group in the first quarter worth about $137,000. Finally, Vontobel Holding Ltd. lifted its holdings in shares of First Watch Restaurant Group by 47.1% during the first quarter. Vontobel Holding Ltd. now owns 77,664 shares of the company’s stock worth $1,048,000 after purchasing an additional 24,883 shares during the period. Institutional investors and hedge funds own 96.11% of the company’s stock.

First Watch Restaurant Group Trading Up 0.5 %

Shares of NASDAQ FWRG opened at $22.30 on Friday. The business’s 50 day moving average is $23.98 and its two-hundred day moving average is $20.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.62 and a quick ratio of 0.57. First Watch Restaurant Group has a 1-year low of $14.68 and a 1-year high of $25.88. The stock has a market capitalization of $1.35 billion, a P/E ratio of 54.39, a PEG ratio of 2.05 and a beta of 1.11.

First Watch Restaurant Group (NASDAQ:FWRG) last released its earnings results on Tuesday, March 5th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $237.20 million. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The company’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. As a group, research analysts expect that First Watch Restaurant Group will post 0.46 EPS for the current year.

About First Watch Restaurant Group

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.