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

Company Overview

First Watch Restaurant Group, Inc. is a U.S.-based restaurant company that operates full-service daytime dining restaurants under the First Watch brand. Its restaurants serve breakfast, brunch and lunch, with made-to-order menu items such as omelets, eggs, pancakes, avocado toast, sandwiches, salads and fresh juices. The company emphasizes fresh ingredients, seasonal offerings and hospitality in a daytime-only operating model.

First Watch restaurants are located across the United States, primarily in suburban and high-traffic retail areas. The company operates a combination of company-owned and franchised locations. Its growth has included the 2020 acquisition of The Egg & I, a breakfast-and-lunch restaurant chain, with acquired restaurants subsequently integrated into the First Watch system.

First Watch Restaurant Group is headquartered in Bradenton, Florida. Chris Tomasso serves as the company’s chief executive officer and has led the business since 2018. The company became publicly traded on the Nasdaq Stock Market in 2021 under the symbol FWRG.

Key Stats

• Today's Range: $9.88 to $10.33
• 50-Day Range: $10.10 to $13.34
• 52-Week Range: $9.88 to $18.82
• Volume: 1.53 million shs
• Average Volume: 1.43 million shs
• Market Capitalization: $629.44 million
• P/E Ratio: 35.17
• Dividend Yield: N/A
• Price Target: $18.56
• Consensus Rating: Moderate Buy

First Watch Restaurant Group Stock Analysis - MarketRank™

First Watch Restaurant Group scored higher than 91% of companies evaluated by MarketBeat, and ranked 138th out of 473 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: 4.2 / 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 2.82, and is based on 1 strong buy rating, 8 buy ratings, 1 hold rating, and 1 sell rating.

Upside Potential

First Watch Restaurant Group has a consensus price target of $18.56, representing about 82.8% upside from its current price of $10.15.

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: 3.8 / 5
• Proj. Earnings Growth: 86.67%

Earnings Growth

Earnings for First Watch Restaurant Group are expected to grow by 86.67% in the coming year, from $0.15 to $0.28 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of First Watch Restaurant Group is 34.97, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 39.04.

Price to Earnings Ratio vs. Sector

The P/E ratio of First Watch Restaurant Group is 34.97, which means that it is trading at a less expensive P/E ratio than the Consumer Discretionary sector average P/E ratio of about 44.27.

Price to Earnings Growth Ratio

First Watch Restaurant Group has a PEG Ratio of 16.90. 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 0.99. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

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

Percentage of Shares Shorted

11.73% 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 8.84.

Change versus previous month

Short interest in First Watch Restaurant Group has recently decreased by 4.81%, 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: 2.7 / 5
• News Sentiment: 0.26

News Sentiment

First Watch Restaurant Group has a news sentiment score of 0.26. 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 0.47 average news sentiment score of Consumer Discretionary companies.

News Coverage This Week

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

Search Interest

2 people have searched for FWRG on MarketBeat in the last 30 days. This is an increase of 100% compared to the previous 30 days.

MarketBeat Follows

2 people have added First Watch Restaurant Group to their MarketBeat watchlist in the last 30 days. This is an increase of 100% compared to the previous 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: 9/23/2026
• 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: $18.56
• High Price Target: $22.00
• Low Price Target: $14.00
• Potential Upside/Downside: +81.9%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.82
• Research Coverage: 11 Analysts

Profitability

• EPS (Trailing Twelve Months): $0.29
• Trailing P/E Ratio: 35.17
• Forward P/E Ratio: 68.00
• P/E Growth: 16.9
• 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: 0.51
• Cash Flow: $1.57 per share
• Price / Cash Flow: 6.51
• Book Value: $10.26 per share
• Price / Book: 0.99

Miscellaneous

• Outstanding Shares: 61,710,000
• Free Float: 57,948,000
• Market Cap: $629.44 million
• Optionable: Optionable
• Beta: 1.03