First Watch Restaurant Group (NASDAQ:FWRG) Price Target Raised to $28.00 at Bank of America

First Watch Restaurant Group (NASDAQ:FWRG) had its target price boosted by Bank of America from $27.00 to $28.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $25.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday. TD Securities reissued a “hold” rating and issued a $21.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, First Watch Restaurant Group has a consensus rating of “Moderate Buy” and a consensus price target of $22.36.

First Watch Restaurant Group Trading Up 1.2 %

FWRG stock opened at $17.04 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. The company has a fifty day moving average price of $19.89 and a two-hundred day moving average price of $18.13. First Watch Restaurant Group has a one year low of $12.90 and a one year high of $25.98. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 51.64, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $263.30 million during the quarter, compared to the consensus estimate of $262.82 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 EPS. Equities analysts anticipate that First Watch Restaurant Group will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FWRG. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in First Watch Restaurant Group during the fourth quarter worth about $377,000. Squarepoint Ops LLC raised its stake in First Watch Restaurant Group by 42.8% during the fourth quarter. Squarepoint Ops LLC now owns 243,101 shares of the company’s stock worth $4,524,000 after acquiring an additional 72,829 shares in the last quarter. Two Sigma Advisers LP acquired a new position in First Watch Restaurant Group during the fourth quarter worth about $947,000. Two Sigma Investments LP raised its stake in First Watch Restaurant Group by 159.3% during the fourth quarter. Two Sigma Investments LP now owns 211,865 shares of the company’s stock worth $3,943,000 after acquiring an additional 130,169 shares in the last quarter. Finally, State of Wyoming raised its stake in First Watch Restaurant Group by 212.6% during the fourth quarter. State of Wyoming now owns 3,214 shares of the company’s stock worth $60,000 after acquiring an additional 2,186 shares in the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

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.