First Watch Restaurant Group (NASDAQ:FWRG) Given New $21.00 Price Target at TD Cowen

First Watch Restaurant Group (NASDAQ:FWRG) had its price objective boosted by TD Cowen from $18.00 to $21.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

FWRG has been the topic of several other research reports. Barclays increased their target price on First Watch Restaurant Group from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday. Guggenheim cut their target price on First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Raymond James upped their price target on First Watch Restaurant Group from $22.00 to $25.00 and gave the company a “strong-buy” rating in a report on Friday. Stephens raised their price objective on shares of First Watch Restaurant Group from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Bank of America lowered their target price on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.30.

First Watch Restaurant Group Trading Up 1.7 %

NASDAQ:FWRG opened at $21.42 on Friday. 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 $1.29 billion, a PE ratio of 64.91, a price-to-earnings-growth ratio of 5.88 and a beta of 0.85. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $16.01 and a 200 day moving average price of $17.32.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $251.61 million for the quarter, compared to analyst estimates of $256.17 million. First Watch Restaurant Group had a return on equity of 3.64% and a net margin of 2.09%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. Sell-side analysts anticipate that First Watch Restaurant Group will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. 1832 Asset Management L.P. acquired a new stake in shares of First Watch Restaurant Group during the first quarter worth about $3,333,000. Nicholas Investment Partners LP purchased a new position in shares of First Watch Restaurant Group in the 2nd quarter valued at approximately $3,391,000. Deepwater Asset Management LLC increased its holdings in shares of First Watch Restaurant Group by 68.5% in the second quarter. Deepwater Asset Management LLC now owns 695,649 shares of the company’s stock valued at $12,216,000 after purchasing an additional 282,765 shares during the period. Primoris Wealth Advisors LLC purchased a new stake in shares of First Watch Restaurant Group during the first quarter worth approximately $1,788,000. Finally, California State Teachers Retirement System lifted its holdings in shares of First Watch Restaurant Group by 15.6% during the first quarter. California State Teachers Retirement System now owns 31,822 shares of the company’s stock worth $783,000 after purchasing an additional 4,294 shares during the period. 96.11% of the stock is owned by hedge funds and other institutional investors.

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.