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

Driven Brands (NASDAQ:DRVN) had its price objective raised by Stifel Nicolaus from $20.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of Driven Brands in a report on Tuesday, August 20th. BMO Capital Markets initiated coverage on shares of Driven Brands in a research note on Monday, July 22nd. They set a “market perform” rating and a $14.00 target price for the company. Royal Bank of Canada upped their price target 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. Baird R W upgraded shares of Driven Brands to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group boosted their price objective on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.86.

Driven Brands Stock Performance

Shares of DRVN stock opened at $16.64 on Thursday. The stock has a market cap of $2.73 billion, a P/E ratio of 416.00, a P/E/G ratio of 1.10 and a beta of 1.11. The company has a fifty day moving average price of $14.73 and a two-hundred day moving average price of $13.32. Driven Brands has a one year low of $10.59 and a one year high of $16.93. 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 (NASDAQ:DRVN) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $591.70 million during the quarter, compared to analysts’ expectations of $598.49 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. Driven Brands’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company posted $0.19 earnings per share. As a group, equities analysts predict that Driven Brands will post 0.86 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Scopia Capital Management LP bought a new position in Driven Brands in the 3rd quarter valued at about $16,890,000. Hood River Capital Management LLC acquired a new stake in shares of Driven Brands during the 1st quarter worth approximately $13,323,000. Marshall Wace LLP increased its stake in Driven Brands by 516.2% in the second quarter. Marshall Wace LLP now owns 612,436 shares of the company’s stock valued at $7,796,000 after acquiring an additional 513,045 shares during the last quarter. Bamco Inc. NY raised its position in Driven Brands by 16.7% during the third quarter. Bamco Inc. NY now owns 3,500,000 shares of the company’s stock valued at $49,945,000 after purchasing an additional 500,000 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Driven Brands by 79.9% during the second quarter. AQR Capital Management LLC now owns 929,073 shares of the company’s stock worth $11,483,000 after purchasing an additional 412,547 shares during the last quarter. 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.