First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Given Consensus Rating of “Moderate Buy” by Analysts

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

Several brokerages have recently issued reports on FWRG. Stephens reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of First Watch Restaurant Group in a research note on Tuesday, January 28th. Piper Sandler lifted their price objective on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FWRG. Lazard Asset Management LLC purchased a new position in shares of First Watch Restaurant Group in the fourth quarter worth approximately $39,095,000. Champlain Investment Partners LLC increased its position in shares of First Watch Restaurant Group by 59.0% in the fourth quarter. Champlain Investment Partners LLC now owns 2,582,303 shares of the company’s stock worth $48,057,000 after acquiring an additional 958,417 shares in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in shares of First Watch Restaurant Group in the fourth quarter worth approximately $15,506,000. Clearbridge Investments LLC purchased a new position in First Watch Restaurant Group during the fourth quarter valued at approximately $12,732,000. Finally, Vanguard Group Inc. grew its position in First Watch Restaurant Group by 25.6% during the fourth quarter. Vanguard Group Inc. now owns 2,351,614 shares of the company’s stock valued at $43,764,000 after purchasing an additional 479,741 shares in the last quarter. 96.11% of the stock is owned by hedge funds and other institutional investors.

First Watch Restaurant Group Stock Performance

Shares of FWRG opened at $19.00 on Tuesday. The firm’s 50 day moving average is $19.96 and its 200-day moving average is $18.13. The stock has a market capitalization of $1.15 billion, a P/E ratio of 57.58, a P/E/G ratio of 3.38 and a beta of 0.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. First Watch Restaurant Group has a 12-month low of $12.90 and a 12-month high of $25.98.

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.