Driven Brands (NASDAQ:DRVN) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Driven Brands (NASDAQ:DRVN) had its price objective raised by Stifel Nicolaus from $20.00 to $22.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

DRVN has been the subject of a number of other research reports. Robert W. Baird increased their price target on shares of Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Baird R W upgraded shares of Driven Brands to a “strong-buy” rating in a research note on Friday, August 2nd. BMO Capital Markets started 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. The Goldman Sachs Group raised their target price 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 restated an “overweight” rating and set a $17.00 target price (up previously from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Four 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 stock. According to data from MarketBeat, Driven Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.86.

Driven Brands Stock Up 0.5 %

DRVN traded up $0.09 during trading hours on Thursday, hitting $16.66. 385,879 shares of the company’s stock were exchanged, compared to its average volume of 1,076,844. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 414.25, a PEG ratio of 1.11 and a beta of 1.11. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The stock’s 50-day moving average is $14.68 and its two-hundred day moving average is $13.32. Driven Brands has a 1-year low of $10.59 and a 1-year high of $16.93.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $591.70 million during the quarter, compared to analysts’ expectations of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share. Sell-side analysts predict that Driven Brands will post 0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

A number of hedge funds have recently bought and sold shares of DRVN. Allspring Global Investments Holdings LLC bought a new position in Driven Brands in the 1st quarter valued at about $26,000. Innealta Capital LLC bought a new position in Driven Brands in the 2nd quarter valued at about $86,000. nVerses Capital LLC bought a new position in Driven Brands in the 3rd quarter valued at about $86,000. Townsquare Capital LLC bought a new position in Driven Brands in the 3rd quarter valued at about $153,000. Finally, Bleakley Financial Group LLC bought a new position in Driven Brands in the 3rd quarter valued at about $171,000. 77.08% of the stock is owned by institutional investors.

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.