First Watch Restaurant Group (NASDAQ:FWRG) Given Hold Rating at TD Securities

TD Securities reiterated their hold rating on shares of First Watch Restaurant Group (NASDAQ:FWRG) in a research report report published on Wednesday,Benzinga reports. TD Securities currently has a $21.00 price target on the stock.

Separately, Stephens reiterated an “overweight” rating and issued a $25.00 target price on shares of First Watch Restaurant Group in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, First Watch Restaurant Group presently has an average rating of “Moderate Buy” and a consensus price target of $22.36.

First Watch Restaurant Group Stock Performance

FWRG stock opened at $17.04 on Wednesday. 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 stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 51.64, a PEG ratio of 3.38 and a beta of 0.90. First Watch Restaurant Group has a 1 year low of $12.90 and a 1 year high of $25.98. The stock’s fifty day moving average is $19.89 and its two-hundred day moving average is $18.13.

First Watch Restaurant Group (NASDAQ:FWRG) last posted 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 company 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 business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.04 earnings per share. On average, research analysts predict that First Watch Restaurant Group will post 0.32 EPS for the current year.

Institutional Investors Weigh In On First Watch Restaurant Group

A number of hedge funds and other institutional investors have recently modified their holdings of FWRG. Assetmark Inc. grew its holdings in 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 acquiring an additional 1,000 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in First Watch Restaurant Group during the fourth quarter worth about $51,000. State of Wyoming grew its holdings 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 during the period. Venturi Wealth Management LLC acquired a new position in First Watch Restaurant Group during the fourth quarter worth about $81,000. Finally, BNP Paribas Financial Markets acquired a new position in First Watch Restaurant Group during the fourth quarter worth about $86,000. 96.11% of the stock is currently owned by institutional investors.

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.