Driven Brands (NASDAQ:DRVN) Price Target Raised to $23.00 at Canaccord Genuity Group

Driven Brands (NASDAQ:DRVN) had its price objective raised by Canaccord Genuity Group from $21.00 to $23.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on DRVN. Stifel Nicolaus upped their price target on shares of Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada boosted their price objective on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Piper Sandler raised their target price on shares of Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, BMO Capital Markets increased their price target on Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.60.

Driven Brands Stock Up 4.5 %

Driven Brands stock opened at $16.35 on Wednesday. Driven Brands has a twelve month low of $10.59 and a twelve month high of $17.45. The stock has a market cap of $2.68 billion, a P/E ratio of 408.75, a P/E/G ratio of 0.79 and a beta of 1.15. The company’s 50-day moving average price is $16.00 and its two-hundred day moving average price is $15.39. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The company had revenue of $564.12 million for the quarter, compared to analyst estimates of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share. As a group, analysts expect that Driven Brands will post 0.85 EPS for the current year.

Hedge Funds Weigh In On Driven Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in Driven Brands in the third quarter valued at about $697,000. Emeth Value Capital LLC acquired a new stake in shares of Driven Brands in the 4th quarter valued at approximately $41,452,000. Barclays PLC boosted its stake in shares of Driven Brands by 36.0% in the 3rd quarter. Barclays PLC now owns 205,068 shares of the company’s stock valued at $2,928,000 after purchasing an additional 54,277 shares in the last quarter. Millrace Asset Group Inc. bought a new stake in shares of Driven Brands during the 3rd quarter valued at approximately $1,420,000. Finally, North Peak Capital Management LLC increased its position in Driven Brands by 1.8% during the 3rd quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock worth $75,617,000 after purchasing an additional 95,529 shares in the last quarter. Institutional investors 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.