First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) had its target price hoisted by Raymond James from $22.00 to $25.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "strong-buy" rating on the stock. Raymond James' price objective suggests a potential upside of 21.60% from the company's current price.
Several other research firms have also weighed in on FWRG. Stephens upped their target price on First Watch Restaurant Group from $20.00 to $25.00 and gave the company an "overweight" rating in a report on Friday. Barclays lifted their target price on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday. Bank of America lowered their price target on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a "buy" rating on the stock in a research report on Wednesday, July 17th. TD Cowen restated a "hold" rating and set a $18.00 price objective on shares of First Watch Restaurant Group in a research report on Thursday, September 12th. Finally, Benchmark reissued a "buy" rating and set a $23.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $23.00.
Read Our Latest Research Report on First Watch Restaurant Group
Shares of FWRG stock traded down $0.27 during trading hours on Friday, reaching $20.56. 516,107 shares of the company's stock were exchanged, compared to its average volume of 580,334. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.52. The company's 50 day moving average is $15.82 and its two-hundred day moving average is $17.42. The company has a market cap of $1.24 billion, a P/E ratio of 52.72, a price-to-earnings-growth ratio of 4.71 and a beta of 0.85. First Watch Restaurant Group has a 1 year low of $12.90 and a 1 year high of $25.98.
First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). First Watch Restaurant Group had a net margin of 2.51% and a return on equity of 4.24%. The company had revenue of $251.61 million during the quarter, compared to analysts' expectations of $256.17 million. During the same quarter in the prior year, the business earned $0.09 EPS. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that First Watch Restaurant Group will post 0.33 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the business. Rocky Mountain Advisers LLC grew its holdings in First Watch Restaurant Group by 180.1% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company's stock valued at $103,000 after buying an additional 4,250 shares during the period. SG Americas Securities LLC purchased a new stake in First Watch Restaurant Group in the third quarter valued at approximately $119,000. Quent Capital LLC increased its holdings in shares of First Watch Restaurant Group by 28.6% during the 2nd quarter. Quent Capital LLC now owns 9,000 shares of the company's stock worth $158,000 after buying an additional 2,000 shares during the last quarter. Versor Investments LP acquired a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth $201,000. Finally, Janus Henderson Group PLC purchased a new position in shares of First Watch Restaurant Group in the 1st quarter worth about $226,000. Hedge funds and other institutional investors own 96.11% of the company's stock.
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.
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