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

Company Overview

First Watch Restaurant Group operates restaurants specializing in breakfast, brunch and lunch. Its First Watch restaurants serve made-to-order meals, including eggs, pancakes, sandwiches, salads and other daytime fare, with an emphasis on fresh ingredients.

The company was founded in 1983 and is headquartered in Bradenton, Florida. It has expanded its restaurant operations across the United States and became a publicly traded company in 2021.

First Watch is led by President and Chief Executive Officer Chris Tomasso. The company’s business centers on operating and growing its namesake restaurant brand.

Key Stats

• Today's Range: $12.64 to $13.14
• 50-Day Range: $10.10 to $13.85
• 52-Week Range: $9.88 to $18.77
• Volume: 355,559 shs
• Average Volume: 1.49 million shs
• Market Capitalization: $801.44 million
• P/E Ratio: 40.53
• Dividend Yield: N/A
• Price Target: $18.18
• Consensus Rating: Buy

First Watch Restaurant Group Stock Analysis - MarketRank™

First Watch Restaurant Group scored higher than 89% of companies evaluated by MarketBeat, and ranked 88th out of 479 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: 4.5 / 5
• Analyst Rating: Buy

Consensus Rating

First Watch Restaurant Group has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 strong buy ratings, 9 buy ratings, 2 hold ratings, and no sell ratings.

Upside Potential

First Watch Restaurant Group has a consensus price target of $18.18, representing about 41.1% upside from its current price of $12.89.

Amount of Analyst Coverage

First Watch Restaurant Group has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 88.24%

Earnings Growth

Earnings for First Watch Restaurant Group are expected to grow by 88.24% in the coming year, from $0.17 to $0.32 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of First Watch Restaurant Group is 40.24, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 26.37.

Price to Earnings Ratio vs. Sector

The P/E ratio of First Watch Restaurant Group is 40.24, which means that it is trading at a more expensive P/E ratio than the Consumer Discretionary sector average P/E ratio of about 26.61.

Price to Earnings Growth Ratio

First Watch Restaurant Group has a PEG Ratio of 9.74. 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 1.24. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 4.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

9.91% 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 3.27, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in First Watch Restaurant Group has recently decreased by 10.91%, indicating that investor sentiment is improving significantly.

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: 3.1 / 5
• News Sentiment: 0.91

News Sentiment

First Watch Restaurant Group has a news sentiment score of 0.91. 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 higher news sentiment than the 0.51 average news sentiment score of Consumer Discretionary companies.

News Coverage This Week

MarketBeat has tracked 4 news articles for First Watch Restaurant Group this week, compared to 3 articles on an average week.

Search Interest

Only 2 people have searched for FWRG on MarketBeat in the last 30 days. This is a decrease of -33% compared to the previous 30 days.

MarketBeat Follows

Only 1 people have added First Watch Restaurant Group to their MarketBeat watchlist in the last 30 days. This is a decrease of -80% 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: 11/03/2026
• Today: 11/13/2026
• 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: $18.18
• High Price Target: $22.00
• Low Price Target: $14.00
• Potential Upside/Downside: +40.8%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 13 Analysts

Profitability

• EPS (Trailing Twelve Months): $0.32
• Trailing P/E Ratio: 40.38
• Forward P/E Ratio: 40.36
• P/E Growth: 9.74
• Net Income: $19.43 million
• Net Margins: 1.45%
• Pretax Margin: 0.80%
• Return on Equity: 3.10%
• Return on Assets: 1.09%

Debt

• Debt-to-Equity Ratio: 0.43
• Current Ratio: 0.25
• Quick Ratio: 0.21

Sales & Book Value

• Annual Sales: $1.22 billion
• Price / Sales: 0.65
• Cash Flow: $1.48 per share
• Price / Cash Flow: 8.70
• Book Value: $10.43 per share
• Price / Book: 1.24

Miscellaneous

• Outstanding Shares: 61,730,000
• Free Float: 57,962,000
• Market Cap: $797.24 million
• Optionable: Optionable
• Beta: 1.00