First Watch Restaurant Group’s (FWRG) “Overweight” Rating Reiterated at Stephens

First Watch Restaurant Group (NASDAQ:FWRG)‘s stock had its “overweight” rating restated by equities research analysts at Stephens in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $25.00 price objective on the stock. Stephens’ price target would indicate a potential upside of 38.12% from the company’s current price.

Separately, Piper Sandler raised their price target on First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, First Watch Restaurant Group has a consensus rating of “Moderate Buy” and an average target price of $22.33.

First Watch Restaurant Group Stock Performance

Shares of FWRG stock opened at $18.10 on Tuesday. The business has a 50 day simple moving average of $19.95 and a 200 day simple moving average of $18.14. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 54.85, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. First Watch Restaurant Group has a 12-month low of $12.90 and a 12-month high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. On average, equities research analysts anticipate that First Watch Restaurant Group will post 0.32 EPS for the current year.

Institutional Trading of First Watch Restaurant Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versor Investments LP bought a new position in First Watch Restaurant Group during the third quarter valued at about $201,000. Mutual of America Capital Management LLC bought a new stake in First Watch Restaurant Group in the third quarter valued at $5,757,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in First Watch Restaurant Group during the third quarter worth $1,566,000. Commerce Bank bought a new position in shares of First Watch Restaurant Group during the third quarter valued at $208,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of First Watch Restaurant Group by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 251,403 shares of the company’s stock valued at $3,922,000 after purchasing an additional 45,119 shares in the last quarter. Institutional investors and hedge funds 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.