Stifel Nicolaus Issues Positive Forecast for Driven Brands (NASDAQ:DRVN) Stock Price

Driven Brands (NASDAQ:DRVN) had its price target boosted by equities research analysts at Stifel Nicolaus from $20.00 to $22.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 32.21% from the company’s current price.

Several other analysts also recently commented on DRVN. Piper Sandler reiterated an “overweight” rating and set a $17.00 target price (up from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Canaccord Genuity Group lifted their price target 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. Robert W. Baird boosted their price objective on shares of Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. 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 report on Friday, August 2nd. Finally, Royal Bank of Canada lifted their target price on shares of Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.86.

Driven Brands Stock Performance

Shares of DRVN opened at $16.64 on Thursday. 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 has a market cap of $2.73 billion, a P/E ratio of 416.00, a P/E/G ratio of 1.11 and a beta of 1.11. The business’s 50 day moving average price is $14.73 and its 200-day moving average price is $13.33. Driven Brands has a 52 week low of $10.59 and a 52 week high of $16.93.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Thursday, October 31st. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $591.70 million for the quarter, compared to the consensus estimate of $598.49 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. Equities research analysts anticipate that Driven Brands will post 0.86 earnings per share for the current fiscal year.

Institutional Trading of Driven Brands

A number of large investors have recently added to or reduced their stakes in DRVN. Allspring Global Investments Holdings LLC purchased a new position in shares of Driven Brands in the first quarter valued at $26,000. Innealta Capital LLC bought a new position in Driven Brands during the second quarter valued at $86,000. nVerses Capital LLC purchased a new position in shares of Driven Brands in the 3rd quarter worth $86,000. Townsquare Capital LLC bought a new stake in shares of Driven Brands in the 3rd quarter worth about $153,000. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Driven Brands during the 3rd quarter valued at about $171,000. 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.