First Watch Restaurant Group (NASDAQ:FWRG) Price Target Cut to $20.00 by Analysts at Guggenheim

First Watch Restaurant Group (NASDAQ:FWRG) had its price objective trimmed by Guggenheim from $24.00 to $20.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also commented on FWRG. Stifel Nicolaus decreased 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 note on Tuesday, July 2nd. 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 on the stock in a report on Wednesday, July 17th. TD Cowen reissued a hold rating and set a $18.00 price target on shares of First Watch Restaurant Group in a report on Thursday, September 12th. Barclays reduced their price target on shares of 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. Finally, Benchmark assumed coverage on shares of First Watch Restaurant Group in a report on Tuesday, August 27th. They set a buy rating and a $23.00 price objective for the company. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $22.63.

First Watch Restaurant Group Trading Up 0.8 %

Shares of First Watch Restaurant Group stock opened at $14.51 on Friday. First Watch Restaurant Group has a 52-week low of $13.99 and a 52-week high of $25.98. The firm has a market capitalization of $876.01 million, a PE ratio of 38.18, a price-to-earnings-growth ratio of 2.42 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.52. The company’s fifty day moving average price is $15.87 and its two-hundred day moving average price is $18.59.

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

Institutional Investors Weigh In On First Watch Restaurant Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. acquired a new position in shares of First Watch Restaurant Group during the first quarter worth approximately $65,000. Quent Capital LLC acquired a new position in First Watch Restaurant Group during the 1st quarter worth $172,000. SG Americas Securities LLC bought a new position in First Watch Restaurant Group in the 3rd quarter valued at $119,000. Janus Henderson Group PLC acquired a new stake in shares of First Watch Restaurant Group in the 1st quarter valued at $226,000. Finally, LVW Advisors LLC bought a new stake in shares of First Watch Restaurant Group during the first quarter worth $227,000. Institutional investors own 96.11% of the company’s stock.

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.