Driven Brands (NASDAQ:DRVN) Price Target Raised to $17.00

Driven Brands (NASDAQ:DRVN) had its price target lifted by JPMorgan Chase & Co. from $14.50 to $17.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

DRVN has been the topic of a number of other research reports. Canaccord Genuity Group raised their target price 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. BMO Capital Markets lifted their target price on shares of Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday. Royal Bank of Canada upped their price objective on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Piper Sandler increased their target price on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, 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 note on Thursday, November 14th. Three investment 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.60.

Driven Brands Trading Up 8.0 %

Shares of Driven Brands stock opened at $17.53 on Wednesday. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The stock has a market capitalization of $2.88 billion, a PE ratio of 438.25, a P/E/G ratio of 0.79 and a beta of 1.15. Driven Brands has a 1-year low of $10.59 and a 1-year high of $17.57. The company’s fifty day simple moving average is $16.03 and its 200-day simple moving average is $15.42.

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, beating 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 business had revenue of $564.12 million during the quarter, compared to analyst estimates of $572.95 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. Driven Brands’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities analysts anticipate that Driven Brands will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DRVN. Mackenzie Financial Corp boosted its position in Driven Brands by 260.7% in the 4th quarter. Mackenzie Financial Corp now owns 44,453 shares of the company’s stock valued at $717,000 after buying an additional 32,130 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Driven Brands by 27.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 113,515 shares of the company’s stock worth $1,832,000 after purchasing an additional 24,112 shares in the last quarter. State of Wyoming bought a new position in Driven Brands in the fourth quarter worth approximately $351,000. Seven Six Capital Management LLC purchased a new position in Driven Brands during the 4th quarter worth $2,431,000. Finally, ProShare Advisors LLC raised its position in Driven Brands by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 16,875 shares of the company’s stock valued at $272,000 after purchasing an additional 5,551 shares in the last quarter. Hedge funds and other 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.