First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives $21.36 Consensus Price Target from Analysts

First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report) has received an average recommendation of "Buy" from the ten research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $21.36.

FWRG has been the subject of a number of recent analyst reports. Guggenheim decreased their target price on First Watch Restaurant Group from $23.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Raymond James reaffirmed a "strong-buy" rating and set a $21.00 target price (down previously from $25.00) on shares of First Watch Restaurant Group in a research report on Wednesday, May 7th. TD Securities decreased their target price on First Watch Restaurant Group from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. TD Cowen upgraded First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 price target for the company in a report on Tuesday, April 1st. Finally, Sanford C. Bernstein set a $21.00 price target on First Watch Restaurant Group in a report on Tuesday, March 11th.

Insider Activity at First Watch Restaurant Group

In related news, insider Jay Anthony Wolszczak sold 5,743 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total value of $96,539.83. Following the completion of the transaction, the insider now directly owns 37,768 shares in the company, valued at approximately $634,880.08. This represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $706,675.59. Following the completion of the transaction, the chief executive officer now owns 389,832 shares of the company's stock, valued at $6,553,075.92. The trade was a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FWRG. Lazard Asset Management LLC acquired a new position in shares of First Watch Restaurant Group in the fourth quarter valued at $39,095,000. Champlain Investment Partners LLC raised its stake in shares of First Watch Restaurant Group by 59.0% in the fourth quarter. Champlain Investment Partners LLC now owns 2,582,303 shares of the company's stock valued at $48,057,000 after purchasing an additional 958,417 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in shares of First Watch Restaurant Group in the fourth quarter valued at $15,506,000. MetLife Investment Management LLC grew its position in First Watch Restaurant Group by 3,919.8% in the first quarter. MetLife Investment Management LLC now owns 834,830 shares of the company's stock valued at $13,900,000 after acquiring an additional 814,062 shares during the period. Finally, Clearbridge Investments LLC bought a new stake in First Watch Restaurant Group in the fourth quarter valued at $12,732,000. 96.11% of the stock is currently owned by institutional investors and hedge funds.

First Watch Restaurant Group Stock Performance

First Watch Restaurant Group stock traded down $0.14 during trading hours on Friday, reaching $15.77. 431,230 shares of the company were exchanged, compared to its average volume of 711,897. The firm has a market cap of $961.86 million, a price-to-earnings ratio of 47.79, a PEG ratio of 3.38 and a beta of 1.01. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $17.43 and a 200 day moving average of $18.69. First Watch Restaurant Group has a 12 month low of $12.90 and a 12 month high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.05). The company had revenue of $282.24 million for the quarter, compared to the consensus estimate of $282.98 million. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 EPS. As a group, research analysts anticipate that First Watch Restaurant Group will post 0.32 earnings per share for the current year.

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.