Driven Brands (NASDAQ:DRVN) Price Target Lowered to $14.00 at Piper Sandler

Driven Brands (NASDAQ:DRVN) had its target price trimmed by Piper Sandler from $18.00 to $14.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on DRVN. Canaccord Genuity Group raised their price target on shares of Driven Brands from $20.00 to $21.00 and gave the company a buy rating in a report on Monday, March 18th. Morgan Stanley lowered Driven Brands from an overweight rating to an equal weight rating and lowered their price objective for the company from $22.00 to $14.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. lowered Driven Brands from an overweight rating to a neutral rating and reduced their target price for the stock from $18.00 to $12.50 in a report on Friday. Finally, Royal Bank of Canada dropped their price target on shares of Driven Brands from $20.00 to $17.00 and set an outperform rating on the stock in a research report on Monday, February 26th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Driven Brands has a consensus rating of Moderate Buy and a consensus price target of $17.94.

Driven Brands Stock Down 0.9 %

Shares of Driven Brands stock traded down $0.10 on Friday, hitting $11.59. 2,840,752 shares of the company traded hands, compared to its average volume of 1,442,472. The company has a quick ratio of 1.73, a current ratio of 1.92 and a debt-to-equity ratio of 3.21. Driven Brands has a 12-month low of $10.59 and a 12-month high of $29.88. The company has a 50-day moving average price of $14.55 and a 200 day moving average price of $13.54. The company has a market cap of $1.90 billion, a PE ratio of -2.49, a PEG ratio of 0.73 and a beta of 1.19.

Driven Brands (NASDAQ:DRVN) last issued its earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $553.70 million for the quarter, compared to analyst estimates of $572.92 million. Driven Brands had a positive return on equity of 11.38% and a negative net margin of 33.30%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. Sell-side analysts predict that Driven Brands will post 0.88 earnings per share for the current year.

Institutional Trading of Driven Brands

A number of hedge funds have recently bought and sold shares of DRVN. GAMMA Investing LLC raised its position in shares of Driven Brands by 49.3% during the first quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock valued at $43,000 after buying an additional 904 shares during the last quarter. Quent Capital LLC raised its holdings in Driven Brands by 17.1% in the 4th quarter. Quent Capital LLC now owns 8,921 shares of the company’s stock valued at $127,000 after acquiring an additional 1,304 shares in the last quarter. Swiss National Bank lifted its position in shares of Driven Brands by 1.0% in the 3rd quarter. Swiss National Bank now owns 147,300 shares of the company’s stock worth $1,855,000 after acquiring an additional 1,500 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Driven Brands by 126.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock worth $41,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Driven Brands during the first quarter valued at approximately $26,000. 77.08% of the stock is owned by institutional investors.

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.