First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives Average Recommendation of “Moderate Buy” from Brokerages

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $20.9091.

A number of equities research analysts have weighed in on the stock. Zacks Research upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Wall Street Zen raised First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. Finally, Barclays lowered their price objective on First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th.

First Watch Restaurant Group Stock Down 2.6%

NASDAQ:FWRG opened at $15.50 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.25 and a quick ratio of 0.21. The firm’s 50-day moving average price is $16.14 and its 200-day moving average price is $16.85. The company has a market capitalization of $945.97 million, a PE ratio of 193.77, a P/E/G ratio of 2.90 and a beta of 0.88. First Watch Restaurant Group has a 1-year low of $12.90 and a 1-year high of $21.99.

Insider Activity

In other news, Director William A. Kussell sold 6,165 shares of First Watch Restaurant Group stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $17.00, for a total value of $104,805.00. Following the completion of the transaction, the director owned 26,402 shares of the company’s stock, valued at $448,834. The trade was a 18.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.00% of the stock is currently owned by corporate insiders.

Institutional Trading of First Watch Restaurant Group

A number of institutional investors and hedge funds have recently bought and sold shares of FWRG. Jones Financial Companies Lllp bought a new position in shares of First Watch Restaurant Group in the third quarter worth approximately $30,000. First Horizon Advisors Inc. raised its holdings in First Watch Restaurant Group by 207.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $31,000 after acquiring an additional 1,316 shares during the last quarter. State of Wyoming purchased a new position in First Watch Restaurant Group in the 4th quarter worth approximately $64,000. Kemnay Advisory Services Inc. bought a new position in First Watch Restaurant Group in the 4th quarter valued at approximately $66,000. Finally, BNP Paribas Financial Markets boosted its stake in First Watch Restaurant Group by 61.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after purchasing an additional 1,673 shares during the last quarter. 96.11% of the stock is currently owned by institutional investors.

About First Watch Restaurant Group

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.