Bank of America Securities Remains a Buy on First Watch Restaurant Group (FWRG)

In a report released today, Sara Senatore from Bank of America Securities maintained a Buy rating on First Watch Restaurant Group (FWRG – Research Report). The company’s shares opened today at $22.39.

According to TipRanks, Senatore is a 4-star analyst with an average return of 9.7% and a 53.85% success rate. Senatore covers the Consumer Cyclical sector, focusing on stocks such as Chipotle, Darden Restaurants, and McDonald’s.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Watch Restaurant Group with a $27.25 average price target, a 21.71% upside from current levels. In a report released on April 19, Barclays also maintained a Buy rating on the stock with a $29.00 price target.

Based on First Watch Restaurant Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $244.63 million and a net profit of $2.65 million. In comparison, last year the company earned a revenue of $190.96 million and had a GAAP net loss of $486 thousand

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FWRG in relation to earlier this year. Last month, Jay Anthony Wolszczak, the CLO, GC & Secy of FWRG sold 15,000.00 shares for a total of $364,350.00.

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First Watch Restaurant Group (FWRG) Company Description:

First Watch Restaurant Group Inc is a daytime restaurant concept serving made-to-order breakfast, brunch, and lunch using fresh ingredients. It generates revenues from Restaurant sales and Franchise revenues.