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

Driven Brands (NASDAQ:DRVN) had its target price hoisted by Piper Sandler from $19.00 to $22.00 in a report issued on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other analysts have also issued research reports about the stock. Stifel Nicolaus lifted their price objective 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 lifted their price objective on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group lifted their price objective on shares of Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.60.

Driven Brands Stock Up 8.0 %

Driven Brands stock opened at $17.53 on Wednesday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. Driven Brands has a 52-week low of $10.59 and a 52-week high of $17.57. The firm has a 50 day moving average price of $16.03 and a two-hundred day moving average price of $15.42. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 438.25, a PEG ratio of 0.79 and a beta of 1.15.

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

Institutional Trading of Driven Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of DRVN. Creative Planning increased its stake in Driven Brands by 9.1% during the 3rd quarter. Creative Planning now owns 33,148 shares of the company’s stock valued at $473,000 after purchasing an additional 2,754 shares in the last quarter. Versor Investments LP bought a new stake in Driven Brands during the 3rd quarter valued at $303,000. GSA Capital Partners LLP purchased a new position in Driven Brands during the 3rd quarter worth $697,000. Intech Investment Management LLC purchased a new position in Driven Brands during the 3rd quarter worth $245,000. Finally, North Peak Capital Management LLC boosted its holdings 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 acquiring an additional 95,529 shares during 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.