TD Cowen reiterated its hold recommendation for shares of First Watch Restaurant Group (NASDAQ:FWRG – Free Report) in a report published Wednesday morning, Benzinga reports. TD Cowen currently has a price target of $18.00 on the stock.
Several other equities analysts have also commented on the stock. Barclays decreased their price target on shares of First Watch Restaurant Group from $29.00 to $27.00 and issued an “overweight” rating on the stock in a research note on Wednesday, May 8th. Stifel Nicolaus decreased their price target on shares of First Watch Restaurant Group from $22.00 to $18.00 and issued a “hold” rating on the stock in a research note on Tuesday, July 2nd. Finally, Bank of America decreased their price target on shares of First Watch Restaurant Group from $29.00 to $24.00 and issued a “buy” rating on the stock in a research note on Wednesday, July 17th. Two equities analysts have rated the stock with a “hold” rating, three have a “buy” rating and one has given the company’s stock a “strong buy” rating. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $23.00.
Read our latest stock report on First Watch Restaurant Group
Price development of the First Watch Restaurant Group
FWRG shares opened at $16.23 on Wednesday. First Watch Restaurant Group has a twelve-month low of $14.05 and a twelve-month high of $25.98. The company’s 50-day moving average is $16.79 and its 200-day moving average is $20.73. The company has a market cap of $979.85 million, a price-to-earnings ratio of 42.71, a PEG ratio of 2.15 and a beta of 0.88. The company has a current ratio of 0.60, a quick ratio of 0.55 and a debt-to-equity ratio of 0.21.
First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last released its quarterly earnings results on Tuesday, August 6. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. First Watch Restaurant Group had a net margin of 2.52% and a return on equity of 4.15%. The company posted revenue of $258.60 million for the quarter, compared to analyst estimates of $257.65 million. During the same period last year, the company posted earnings per share of $0.13. The company’s revenue grew 19.6% year-over-year. Equities analysts forecast that First Watch Restaurant Group will post earnings per share of $0.37 for the current fiscal year.
Institutional trading of First Watch Restaurant Group
Institutional investors have recently added to or reduced their holdings of the stock. WCM Investment Management LLC acquired a new stake in shares of First Watch Restaurant Group in the first quarter valued at about $16,030,000. Foxhaven Asset Management LP increased its holdings in shares of First Watch Restaurant Group by 44.3% in the fourth quarter. Foxhaven Asset Management LP now owns 1,046,362 shares of the company’s stock valued at $21,032,000 after buying an additional 321,375 shares in the last quarter. Deepwater Asset Management LLC increased its holdings in shares of First Watch Restaurant Group by 275.3% in the first quarter. Deepwater Asset Management LLC now owns 412,884 shares of the company’s stock valued at $10,165,000 after buying an additional 302,878 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of First Watch Restaurant Group by 25.1% in the third quarter. Vanguard Group Inc. now owns 1,311,905 shares of the company’s stock valued at $22,683,000 after acquiring an additional 263,101 shares in the last quarter. Finally, Nicholas Investment Partners LP acquired a new stake in shares of First Watch Restaurant Group in the second quarter valued at about $3,391,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.
About First Watch Restaurant Group
(Get free report)
First Watch Restaurant Group, Inc., through its subsidiaries, operates and franchises restaurants in the United States under the trade name First Watch. 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.
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