Driven Brands (NASDAQ:DRVN) Price Target Raised to $18.00

Driven Brands (NASDAQ:DRVN) had its price target lifted by Robert W. Baird from $17.00 to $18.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently issued reports on the company. Barclays reduced their price objective on Driven Brands from $25.00 to $22.00 and set an overweight rating for the company in a research note on Monday, May 6th. The Goldman Sachs Group upped their price objective on Driven Brands from $14.00 to $16.00 and gave the company a neutral rating in a research note on Friday. JPMorgan Chase & Co. cut Driven Brands from an overweight rating to a neutral rating and dropped their price target for the company from $18.00 to $12.50 in a research report on Friday, May 3rd. Canaccord Genuity Group dropped their price target on Driven Brands from $21.00 to $17.00 and set a buy rating on the stock in a research report on Friday, May 3rd. Finally, BMO Capital Markets started coverage on Driven Brands in a research report on Monday, July 22nd. They set a market perform rating and a $14.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $17.68.

Driven Brands Price Performance

Shares of NASDAQ:DRVN traded down $0.94 during mid-day trading on Friday, hitting $13.57. 1,014,118 shares of the company traded hands, compared to its average volume of 1,129,919. The stock has a 50-day moving average price of $12.36 and a two-hundred day moving average price of $13.21. Driven Brands has a 12-month low of $10.59 and a 12-month high of $16.57. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 3.20.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. The firm had revenue of $611.60 million during the quarter, compared to the consensus estimate of $628.34 million. Driven Brands had a positive return on equity of 15.31% and a negative net margin of 33.56%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. On average, equities research analysts expect that Driven Brands will post 0.87 EPS for the current year.

Institutional Trading of Driven Brands

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in Driven Brands by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after purchasing an additional 904 shares in the last quarter. Lindbrook Capital LLC increased its stake in Driven Brands by 126.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock worth $41,000 after acquiring an additional 1,594 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Driven Brands in the 1st quarter worth about $26,000. Price T Rowe Associates Inc. MD increased its stake in Driven Brands by 14.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock worth $219,000 after acquiring an additional 1,758 shares during the last quarter. Finally, CWM LLC increased its stake in Driven Brands by 16.8% in the 4th quarter. CWM LLC now owns 15,486 shares of the company’s stock worth $221,000 after acquiring an additional 2,226 shares during the last quarter. Hedge funds and other 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.