First Watch Restaurant Group (FWRG) Stock Price, News & Analysis

Company Overview

First Watch Restaurant Group, Inc. operates a chain of daytime restaurants specializing in breakfast, brunch and lunch. Its restaurants serve made-to-order meals prepared with fresh ingredients, including omelets, pancakes, avocado toast, salads, sandwiches and other contemporary daytime fare. The company also offers coffee, fresh juices and other beverages.

First Watch restaurants are designed around a daytime dining experience and generally operate during breakfast and lunch hours rather than offering dinner service. The company serves customers primarily in the United States through company-owned and franchised locations under the First Watch brand.

First Watch traces its roots to a restaurant established in Bradenton, Florida, in 1983. The company expanded through a combination of new restaurant openings and acquisitions, including the acquisition of The Egg & I brand, before becoming a publicly traded company in 2021. First Watch Restaurant Group is headquartered in Bradenton, Florida, and is led by Chief Executive Officer Chris Tomasso.

Key Stats

• Today's Range: $10.21 to $10.64
• 50-Day Range: $10.10 to $13.34
• 52-Week Range: $9.88 to $18.82
• Volume: 1.84 million shs
• Average Volume: 1.30 million shs
• Market Capitalization: $652.27 million
• P/E Ratio: 36.45
• Dividend Yield: N/A
• Price Target: $18.33
• Consensus Rating: Moderate Buy

First Watch Restaurant Group Stock Analysis - MarketRank™

First Watch Restaurant Group scored higher than 86% of companies evaluated by MarketBeat, and ranked 129th out of 477 stocks in the consumer discretionary sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

First Watch Restaurant Group has received a consensus rating of Moderate Buy. The company's average rating score is 2.91, and is based on 1 strong buy rating, 8 buy ratings, 2 hold ratings, and no sell ratings.

Upside Potential

First Watch Restaurant Group has a consensus price target of $18.33, representing about 73.4% upside from its current price of $10.57.

Amount of Analyst Coverage

First Watch Restaurant Group has only been the subject of 4 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 66.67%

Earnings Growth

Earnings for First Watch Restaurant Group are expected to grow by 66.67% in the coming year, from $0.15 to $0.25 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of First Watch Restaurant Group is 36.45, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 44.66.

Price to Earnings Ratio vs. Sector

The P/E ratio of First Watch Restaurant Group is 36.45, which means that it is trading at a less expensive P/E ratio than the Consumer Discretionary sector average P/E ratio of about 44.37.

Price to Earnings Growth Ratio

First Watch Restaurant Group has a PEG Ratio of 17.62. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

First Watch Restaurant Group has a P/B Ratio of 1.03. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

11.25% of the float of First Watch Restaurant Group has been sold short.

Short Interest Ratio / Days to Cover

First Watch Restaurant Group has a short interest ratio ("days to cover") of 5.23.

Change versus previous month

Short interest in First Watch Restaurant Group has recently decreased by 4.05%, indicating that investor sentiment is improving.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

First Watch Restaurant Group does not currently pay a dividend.

Dividend Growth

First Watch Restaurant Group does not have a long track record of dividend growth.

News and Social Media

• Score: 2.6 / 5
• News Sentiment: 0.18

News Sentiment

First Watch Restaurant Group has a news sentiment score of 0.18. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.44 average news sentiment score of Consumer Discretionary companies.

News Coverage This Week

MarketBeat has tracked 5 news articles for First Watch Restaurant Group this week, compared to 3 articles on an average week.

Search Interest

Only 1 people have searched for FWRG on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

MarketBeat Follows

3 people have added First Watch Restaurant Group to their MarketBeat watchlist in the last 30 days.

Company Ownership

• Score: 0.9 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, First Watch Restaurant Group insiders have not sold or bought any company stock.

Percentage Held by Insiders

6.10% of the stock of First Watch Restaurant Group is held by insiders.

Percentage Held by Institutions

96.11% of the stock of First Watch Restaurant Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Company Calendar

• Last Earnings: 8/04/2026
• Today: 10/05/2026
• Next Earnings (Estimated): 11/03/2026
• Fiscal Year End: 12/31/2026

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Consumer Discretionary
• Industry: Hotels, Restaurants & Leisure
• Sub-Industry: Restaurants
• Current Symbol: NASDAQ:FWRG
• CIK: 1789940
• Web: www.firstwatch.com
• Phone: 941-907-9800
• Fax: N/A
• Employees: 17,500
• Year Founded: 1983

Price Target and Rating

• Average Price Target for First Watch Restaurant Group: $18.33
• High Price Target: $22.00
• Low Price Target: $14.00
• Potential Upside/Downside: +73.4%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.91
• Research Coverage: 11 Analysts

Profitability

• EPS (Trailing Twelve Months): $0.29
• Trailing P/E Ratio: 36.45
• Forward P/E Ratio: 70.47
• P/E Growth: 17.62
• Net Income: $19.43 million
• Net Margins: 1.35%
• Pretax Margin: 0.76%
• Return on Equity: 2.85%
• Return on Assets: 1.01%

Debt

• Debt-to-Equity Ratio: 0.44
• Current Ratio: 0.27
• Quick Ratio: 0.22

Sales & Book Value

• Annual Sales: $1.22 billion
• Price / Sales: 0.53
• Cash Flow: $1.56 per share
• Price / Cash Flow: 6.78
• Book Value: $10.26 per share
• Price / Book: 1.03

Miscellaneous

• Outstanding Shares: 61,710,000
• Free Float: 57,948,000
• Market Cap: $652.27 million
• Optionable: Optionable
• Beta: 1.05