First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives $22.33 Average Price Target from Brokerages

First Watch Restaurant Group, Inc. (NASDAQ:FWRGGet Free Report) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $22.33.

A number of equities research analysts recently issued reports on FWRG shares. Stifel Nicolaus reissued a “hold” rating and set a $20.00 price target (down previously from $22.00) on shares of First Watch Restaurant Group in a research report on Thursday, January 4th. TheStreet upgraded First Watch Restaurant Group from a “d+” rating to a “c+” rating in a research note on Wednesday, November 1st. Raymond James upped their target price on First Watch Restaurant Group from $23.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 25th. Finally, Barclays upped their target price on First Watch Restaurant Group from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 3rd.

Get Our Latest Analysis on FWRG

Insider Activity

In other news, Director William A. Kussell sold 5,000 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the transaction, the director now directly owns 35,795 shares in the company, valued at approximately $715,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director William A. Kussell sold 15,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $20.53, for a total value of $307,950.00. Following the completion of the sale, the director now directly owns 20,795 shares in the company, valued at $426,921.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William A. Kussell sold 5,000 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the sale, the director now owns 35,795 shares of the company’s stock, valued at $715,900. The disclosure for this sale can be found here. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of First Watch Restaurant Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its holdings in First Watch Restaurant Group by 18.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 771,827 shares of the company’s stock valued at $13,345,000 after purchasing an additional 122,775 shares during the period. SG Americas Securities LLC acquired a new stake in First Watch Restaurant Group in the third quarter valued at $128,000. LGT Group Foundation increased its holdings in First Watch Restaurant Group by 11.5% in the third quarter. LGT Group Foundation now owns 183,195 shares of the company’s stock valued at $3,208,000 after purchasing an additional 18,935 shares during the period. Lord Abbett & CO. LLC increased its holdings in First Watch Restaurant Group by 433.0% in the third quarter. Lord Abbett & CO. LLC now owns 668,159 shares of the company’s stock valued at $11,552,000 after purchasing an additional 542,800 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in First Watch Restaurant Group by 3,232.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,233 shares of the company’s stock worth $39,000 after acquiring an additional 2,166 shares during the period. 96.11% of the stock is currently owned by institutional investors and hedge funds.

First Watch Restaurant Group Trading Down 1.6 %

Shares of NASDAQ:FWRG opened at $21.81 on Monday. The company has a market capitalization of $1.30 billion, a P/E ratio of 60.58, a P/E/G ratio of 1.30 and a beta of 1.07. First Watch Restaurant Group has a 1 year low of $14.34 and a 1 year high of $22.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.53 and a quick ratio of 0.49. The business’s 50 day simple moving average is $19.76 and its 200 day simple moving average is $18.64.

First Watch Restaurant Group Company Profile

(Get Free Report

First Watch Restaurant Group, Inc 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. The company was founded in 1983 and is headquartered in Bradenton, Florida.

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Analyst Recommendations for First Watch Restaurant Group (NASDAQ:FWRG)

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