First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Given Average Rating of “Moderate Buy” by Analysts

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $18.5556.

FWRG has been the topic of several recent research reports. Wall Street Zen raised shares of First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Stifel Nicolaus set a $14.00 price objective on First Watch Restaurant Group in a research note on Tuesday, May 5th. Guggenheim dropped their target price on First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings raised First Watch Restaurant Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. Finally, Freedom Capital upgraded First Watch Restaurant Group to a “strong-buy” rating in a report on Wednesday, July 1st.

Institutional Trading of First Watch Restaurant Group

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of First Watch Restaurant Group during the second quarter valued at about $58,445,000. The Manufacturers Life Insurance Company purchased a new position in First Watch Restaurant Group during the second quarter worth about $49,291,000. Bank of New York Mellon Corp bought a new stake in First Watch Restaurant Group in the 2nd quarter worth about $47,938,000. The Manufacturers Life Insurance Company grew its position in First Watch Restaurant Group by 81.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,357,950 shares of the company’s stock worth $35,191,000 after purchasing an additional 1,507,074 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in First Watch Restaurant Group in the 3rd quarter valued at about $20,318,000. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Performance

FWRG opened at $12.31 on Tuesday. First Watch Restaurant Group has a 1-year low of $9.97 and a 1-year high of $19.53. The company has a market cap of $759.65 million, a price-to-earnings ratio of 42.45, a PEG ratio of 21.20 and a beta of 1.03. The company’s fifty day moving average price is $12.34 and its two-hundred day moving average price is $12.57. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.44.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $354.67 million for the quarter, compared to analyst estimates of $351.57 million. First Watch Restaurant Group had a net margin of 1.35% and a return on equity of 2.85%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, analysts expect that First Watch Restaurant Group will post 0.15 EPS for the current fiscal year.

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.