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

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

A number of equities research analysts recently weighed in on FWRG shares. Zacks Research raised 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 shares of First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Watch Restaurant Group in a research report on Monday, December 29th. Finally, Barclays cut their price target on First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th.

First Watch Restaurant Group Trading Down 2.2%

FWRG opened at $15.37 on Tuesday. The firm has a market capitalization of $938.03 million, a P/E ratio of 192.15, a P/E/G ratio of 2.80 and a beta of 0.88. The firm’s 50 day moving average is $16.21 and its 200-day moving average is $16.92. First Watch Restaurant Group has a 52-week low of $12.90 and a 52-week high of $22.71. The company has a quick ratio of 0.21, a current ratio of 0.25 and a debt-to-equity ratio of 0.41.

Insider Activity

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

Institutional Trading of First Watch Restaurant Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp bought a new position in First Watch Restaurant Group during the 3rd quarter valued at $30,000. First Horizon Advisors Inc. increased its position in shares of 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 purchasing an additional 1,316 shares during the last quarter. State of Wyoming acquired a new stake in shares of First Watch Restaurant Group in the 4th quarter valued at about $64,000. BNP Paribas Financial Markets lifted its position in shares of First Watch Restaurant Group by 61.9% during the second quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock worth $70,000 after purchasing an additional 1,673 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of First Watch Restaurant Group by 17,042.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,657 shares of the company’s stock worth $85,000 after purchasing an additional 5,624 shares during the last quarter. Institutional investors own 96.11% of the company’s stock.

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.