First Watch Restaurant Group’s (FWRG) Overweight Rating Reiterated at Stephens

Posted by Geri Gentry on Nov 7th, 2026

Stephens reissued their overweight rating on shares of First Watch Restaurant Group (NASDAQ:FWRG – Free Report) in a report published on Wednesday morning,Benzinga reports. They currently have a $18.00 price objective on the stock.

A number of other brokerages have also recently weighed in on FWRG. DA Davidson dropped their price target on First Watch Restaurant Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, October 2nd. Raymond James Financial reduced their price objective on First Watch Restaurant Group from $20.00 to $18.00 and set a “strong-buy” rating for the company in a research report on Friday, October 16th. Citigroup lowered their price objective on First Watch Restaurant Group from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Guggenheim dropped their target price on First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded First Watch Restaurant Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, First Watch Restaurant Group has a consensus rating of “Buy” and a consensus price target of $18.00.

Read Our Latest Stock Analysis on First Watch Restaurant Group

First Watch Restaurant Group Stock Performance

Shares of NASDAQ:FWRG traded down $0.26 during trading on Wednesday, reaching $12.86. 2,041,952 shares of the company’s stock traded hands, compared to its average volume of 1,928,175. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.27 and a quick ratio of 0.22. First Watch Restaurant Group has a 12 month low of $9.88 and a 12 month high of $18.77. The company has a 50 day moving average of $11.40 and a 200-day moving average of $12.38. The stock has a market capitalization of $793.59 million, a P/E ratio of 40.19, a price-to-earnings-growth ratio of 58.49 and a beta of 1.00.

First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. First Watch Restaurant Group had a net margin of 1.35% and a return on equity of 2.85%. The firm had revenue of $349.86 million for the quarter, compared to analysts’ expectations of $348.99 million. During the same quarter last year, the company posted $0.05 earnings per share. First Watch Restaurant Group’s revenue was up 10.7% on a year-over-year basis. On average, equities analysts expect that First Watch Restaurant Group will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of First Watch Restaurant Group during the second quarter valued at $58,445,000. The Manufacturers Life Insurance Company acquired a new stake in First Watch Restaurant Group in the second quarter worth about $49,291,000. Bank of New York Mellon Corp bought a new position in First Watch Restaurant Group in the 2nd quarter valued at about $47,938,000. Dimensional Fund Advisors LP grew its position in First Watch Restaurant Group by 19.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,084,886 shares of the company’s stock valued at $32,328,000 after buying an additional 508,704 shares in the last quarter. Finally, Penn Capital Management Company LLC grew its position in First Watch Restaurant Group by 29.1% in the 2nd quarter. Penn Capital Management Company LLC now owns 1,472,751 shares of the company’s stock valued at $19,016,000 after buying an additional 331,594 shares in the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

First Watch Restaurant Group Company Profile

(Get Free Report)

First Watch Restaurant Group, Inc operates a daytime-focused restaurant concept serving breakfast, brunch and lunch. Its restaurants offer made-to-order meals such as omelets, pancakes, French toast, sandwiches, salads and bowls, along with fresh juices, coffee and other beverages. The company generally does not serve dinner, positioning its restaurants around the daytime dining occasion.

First Watch restaurants emphasize fresh preparation and seasonal menu offerings, including items made with eggs, fruits, vegetables and other ingredients prepared in the restaurant.