Driven Brands (NASDAQ:DRVN) Given New $22.00 Price Target at Piper Sandler

Driven Brands (NASDAQ:DRVN) had its price objective lifted by investment analysts at Piper Sandler from $19.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 35.55% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus lifted their price objective on shares of Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Royal Bank of Canada increased their target price on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research report 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.60.

Driven Brands Trading Down 0.7 %

NASDAQ:DRVN opened at $16.23 on Wednesday. Driven Brands has a 52 week low of $10.59 and a 52 week high of $17.45. The firm has a 50-day moving average price of $16.00 and a two-hundred day moving average price of $15.39. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 405.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15. 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 (NASDAQ:DRVN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $0.19 earnings per share. Driven Brands’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts expect that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of Driven Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in Driven Brands by 600.5% in the 4th quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock worth $148,000 after buying an additional 7,885 shares during the period. Townsquare Capital LLC bought a new stake in Driven Brands during the 3rd quarter valued at $153,000. LPL Financial LLC purchased a new stake in shares of Driven Brands during the fourth quarter worth $178,000. BNP Paribas Financial Markets bought a new position in shares of Driven Brands in the fourth quarter worth $205,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Driven Brands in the fourth quarter valued at $215,000. Institutional investors own 77.08% of the company’s stock.

About Driven Brands

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.