Driven Brands (NASDAQ:DRVN) Given New $16.00 Price Target at BMO Capital Markets

Driven Brands (NASDAQ:DRVN) had its target price raised by BMO Capital Markets from $15.00 to $16.00 in a research report report published on Wednesday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other brokerages also recently issued reports on DRVN. Piper Sandler increased their price target on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada increased their target price on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus boosted their price target on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group increased their price objective on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.60.

Driven Brands Price Performance

Shares of DRVN opened at $17.53 on Wednesday. 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 has a twelve month low of $10.59 and a twelve month high of $17.57. The company has a 50 day moving average of $16.03 and a 200-day moving average of $15.42. The stock has a market capitalization of $2.88 billion, a P/E ratio of 438.25, a P/E/G ratio of 0.79 and a beta of 1.15.

Driven Brands (NASDAQ:DRVN) last issued its earnings results on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.17 by $0.13. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company had revenue of $564.12 million during the quarter, compared to the consensus estimate of $572.95 million. During the same period in the previous year, the company posted $0.19 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that Driven Brands will post 0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning raised its position in Driven Brands by 9.1% during the third 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 purchased a new position in shares of Driven Brands during the 3rd quarter valued at about $303,000. GSA Capital Partners LLP bought a new stake in Driven Brands in the 3rd quarter worth approximately $697,000. Intech Investment Management LLC purchased a new stake in Driven Brands in the third quarter worth approximately $245,000. Finally, North Peak Capital Management LLC grew its position in Driven Brands by 1.8% during the third quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock valued at $75,617,000 after acquiring an additional 95,529 shares during the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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.