Driven Brands (NASDAQ:DRVN) Price Target Raised to $22.00

Driven Brands (NASDAQ:DRVN) had its price target lifted by Stifel Nicolaus from $20.00 to $22.00 in a research report sent to investors on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Baird R W upgraded Driven Brands to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their target price on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. The Goldman Sachs Group upped their price target on shares of Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. BMO Capital Markets began coverage on shares of Driven Brands in a research report on Monday, July 22nd. They issued a “market perform” rating and a $14.00 price objective on the stock. Finally, Robert W. Baird upped their target price on shares of Driven Brands from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.86.

Driven Brands Stock Performance

Shares of DRVN opened at $16.64 on Thursday. The stock has a market capitalization of $2.73 billion, a PE ratio of 416.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11. The business’s fifty day moving average price is $14.73 and its 200 day moving average price is $13.33. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. Driven Brands has a 12-month low of $10.59 and a 12-month high of $16.93.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. The business had revenue of $591.70 million during the quarter, compared to analyst estimates of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. Equities research analysts forecast that Driven Brands will post 0.86 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in Driven Brands during the 1st quarter valued at $26,000. Innealta Capital LLC acquired a new stake in shares of Driven Brands in the second quarter valued at $86,000. nVerses Capital LLC bought a new position in Driven Brands during the third quarter valued at about $86,000. Townsquare Capital LLC acquired a new position in Driven Brands during the third quarter worth about $153,000. Finally, Bleakley Financial Group LLC bought a new stake in Driven Brands in the third quarter worth about $171,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Company Profile

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.