First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives $23.30 Consensus Price Target from Analysts

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $22.33.

Several equities analysts have issued reports on FWRG shares. Stephens reissued an “overweight” rating and issued a $25.00 price target on shares of First Watch Restaurant Group in a research note on Tuesday, January 28th. Piper Sandler boosted their price target on First Watch Restaurant Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, November 11th.

First Watch Restaurant Group Price Performance

Shares of FWRG opened at $18.10 on Tuesday. First Watch Restaurant Group has a 52-week low of $12.90 and a 52-week high of $25.98. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.54. The business’s 50 day moving average price is $19.95 and its two-hundred day moving average price is $18.14. The firm has a market cap of $1.10 billion, a PE ratio of 54.85, a price-to-earnings-growth ratio of 3.38 and a beta of 0.91.

Hedge Funds Weigh In On First Watch Restaurant Group

Institutional investors have recently modified their holdings of the company. Assetmark Inc. raised its position in shares of First Watch Restaurant Group by 68.7% during the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company’s stock worth $46,000 after purchasing an additional 1,000 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of First Watch Restaurant Group during the fourth quarter worth approximately $51,000. State of Wyoming raised its position in shares of 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 purchasing an additional 2,186 shares during the period. Venturi Wealth Management LLC purchased a new stake in First Watch Restaurant Group in the 4th quarter valued at $81,000. Finally, BNP Paribas Financial Markets purchased a new stake in First Watch Restaurant Group in the 4th quarter valued at $86,000. 96.11% of the stock is owned by institutional investors and hedge funds.

First Watch Restaurant Group Company Profile

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.