First Watch Restaurant Group (NASDAQ:FWRG) Trading Up 8.3% – What’s Next?

First Watch Restaurant Group, Inc. (NASDAQ:FWRG)’s share price rose 8.3% during trading on Tuesday . The stock traded as high as $22.15 and last traded at $22.32. Approximately 153,426 shares traded hands during trading, a decline of 66% from the average daily volume of 450,570 shares. The stock had previously closed at $20.61.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Stephens reissued an “overweight” rating and issued a $25.00 target price on shares of First Watch Restaurant Group in a research note on Tuesday, January 28th. Raymond James boosted their price objective on First Watch Restaurant Group from $22.00 to $25.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. TD Cowen increased their target price on First Watch Restaurant Group from $18.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Barclays lifted their price target on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Piper Sandler increased 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 report on Monday, November 11th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.30.

First Watch Restaurant Group Stock Down 3.4 %

The firm’s 50-day simple moving average is $19.70 and its 200 day simple moving average is $17.79. 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 $1.25 billion, a P/E ratio of 62.76, a PEG ratio of 3.64 and a beta of 0.91.

Institutional Trading of First Watch Restaurant Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. grew its stake in First Watch Restaurant Group by 68.7% in the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company’s stock valued at $46,000 after purchasing an additional 1,000 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of First Watch Restaurant Group in the 4th quarter valued at approximately $51,000. State of Wyoming grew its stake in shares of First Watch Restaurant Group by 212.6% in the fourth quarter. State of Wyoming now owns 3,214 shares of the company’s stock valued at $60,000 after buying an additional 2,186 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in First Watch Restaurant Group during the fourth quarter worth $81,000. Finally, BNP Paribas Financial Markets bought a new stake in First Watch Restaurant Group during the fourth quarter worth $86,000. Institutional investors own 96.11% of the company’s stock.

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.