Driven Brands (NASDAQ:DRVN) Price Target Raised to $22.00 at Piper Sandler

Driven Brands (NASDAQ:DRVN) had its target price hoisted by Piper Sandler from $19.00 to $22.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada boosted their price target on shares of Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. 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. Finally, Stifel Nicolaus boosted their price target on shares of Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.60.

Driven Brands Price Performance

DRVN 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 company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 438.25, a P/E/G ratio of 0.79 and a beta of 1.15. The firm’s fifty day moving average price is $16.03 and its two-hundred day moving average price is $15.42. Driven Brands has a 1 year low of $10.59 and a 1 year high of $17.57.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The company had revenue of $564.12 million for the quarter, compared to the consensus estimate of $572.95 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. As a group, analysts anticipate that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Several institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its holdings in Driven Brands by 260.7% during the fourth quarter. Mackenzie Financial Corp now owns 44,453 shares of the company’s stock valued at $717,000 after purchasing an additional 32,130 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Driven Brands by 27.0% during 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 valued at $1,832,000 after buying an additional 24,112 shares during the period. State of Wyoming bought a new stake in shares of Driven Brands during the fourth quarter valued at about $351,000. Seven Six Capital Management LLC bought a new stake in shares of Driven Brands during the fourth quarter valued at about $2,431,000. Finally, ProShare Advisors LLC increased its position in shares of Driven Brands by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 16,875 shares of the company’s stock valued at $272,000 after buying an additional 5,551 shares during the period. 77.08% of the stock is owned by hedge funds and other 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.