BTIG Research Cuts Driven Brands (NASDAQ:DRVN) Price Target to $21.00

Driven Brands (NASDAQ:DRVN) had its price target cut by BTIG Research from $22.00 to $21.00 in a report issued on Tuesday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on DRVN. Canaccord Genuity Group reaffirmed a “buy” rating and set a $24.00 target price on shares of Driven Brands in a research report on Thursday, September 18th. JPMorgan Chase & Co. upgraded Driven Brands from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $17.00 to $23.00 in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Driven Brands in a report on Tuesday, October 14th. Piper Sandler decreased their target price on shares of Driven Brands from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Finally, Zacks Research upgraded shares of Driven Brands to a “hold” rating in a research report on Friday, August 8th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.33.

Driven Brands Stock Down 2.6%

Shares of NASDAQ DRVN opened at $14.11 on Tuesday. The company has a 50 day simple moving average of $16.33 and a 200 day simple moving average of $17.02. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.11 and a quick ratio of 1.01. Driven Brands has a 1 year low of $13.93 and a 1 year high of $19.74. The firm has a market cap of $2.32 billion, a PE ratio of -11.38, a price-to-earnings-growth ratio of 0.87 and a beta of 1.05.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter. The firm had revenue of $564.12 million during the quarter. Driven Brands had a negative net margin of 9.14% and a positive return on equity of 26.54%. On average, research analysts forecast that Driven Brands will post 0.85 EPS for the current year.

Insider Transactions at Driven Brands

In other Driven Brands news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $18.05, for a total transaction of $1,985,500.00. Following the transaction, the director directly owned 2,279,453 shares in the company, valued at approximately $41,144,126.65. This represents a 4.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Caprock Group LLC bought a new position in Driven Brands in the 3rd quarter valued at about $206,000. AlphaQuest LLC raised its stake in shares of Driven Brands by 96.8% in the third quarter. AlphaQuest LLC now owns 22,133 shares of the company’s stock worth $357,000 after purchasing an additional 10,887 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Driven Brands in the third quarter valued at approximately $44,645,000. Federated Hermes Inc. bought a new position in shares of Driven Brands in the third quarter valued at approximately $108,000. Finally, Inscription Capital LLC purchased a new position in shares of Driven Brands during the third quarter valued at approximately $623,000. 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.