Driven Brands (NASDAQ:DRVN) Price Target Raised to $20.00

by · The Cerbat Gem

Driven Brands (NASDAQ:DRVN – Free Report) had its price target boosted by Royal Bank of Canada from $17.00 to $20.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the stock.

DRVN has been the subject of several other research reports. BMO Capital Markets initiated coverage on shares of Driven Brands in a research report on Monday, July 22nd. They issued a “market perform” rating and a $14.00 price target for the company. Canaccord Genuity Group upped their price target on shares of Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird increased their price objective on shares of Driven Brands from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price objective on shares of Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $17.00 price objective (up previously from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Driven Brands currently has an average rating of “Moderate Buy” and an average target price of $17.45.

Check Out Our Latest Research Report on Driven Brands

Driven Brands Price Performance

Driven Brands stock opened at $14.75 on Friday. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 368.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.11. The company has a debt-to-equity ratio of 3.03, a current ratio of 2.11 and a quick ratio of 1.91. Driven Brands has a 1 year low of $10.59 and a 1 year high of $16.00. The firm has a 50-day moving average of $14.31 and a two-hundred day moving average of $13.20.

Driven Brands (NASDAQ:DRVN – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 15.03%. The company had revenue of $591.70 million during the quarter, compared to analysts’ expectations of $598.49 million. During the same period in the previous year, the company earned $0.19 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. On average, research analysts forecast that Driven Brands will post 0.88 earnings per share for the current year.

Hedge Funds Weigh In On Driven Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its holdings in Driven Brands by 396.7% during the second quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock valued at $1,573,000 after purchasing an additional 98,662 shares in the last quarter. Bamco Inc. NY lifted its holdings in Driven Brands by 14.3% during the first quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock valued at $31,580,000 after purchasing an additional 250,000 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Driven Brands during the second quarter valued at $816,000. Sei Investments Co. lifted its holdings in Driven Brands by 12.0% during the first quarter. Sei Investments Co. now owns 78,370 shares of the company’s stock valued at $1,237,000 after purchasing an additional 8,372 shares in the last quarter. Finally, Norden Group LLC purchased a new position in Driven Brands during the first quarter valued at $182,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Company Profile

(Get Free Report)

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.

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