Driven Brands (NASDAQ:DRVN) Price Target Raised to $16.00 at BMO Capital Markets

Driven Brands (NASDAQ:DRVN - Get Free Report) had its price target lifted by BMO Capital Markets from $15.00 to $16.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "market perform" rating on the stock. BMO Capital Markets' price objective would suggest a potential downside of 8.73% from the stock's previous close.

Several other equities analysts have also commented on DRVN. Canaccord Genuity Group boosted their price target on Driven Brands from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Royal Bank of Canada upped their price target on Driven Brands from $17.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Stifel Nicolaus upped their price target on Driven Brands from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, Piper Sandler upped their price target on Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.60.

Driven Brands Price Performance

Shares of NASDAQ:DRVN traded up $1.30 during midday trading on Wednesday, hitting $17.53. 1,193,012 shares of the stock were exchanged, compared to its average volume of 868,983. The stock has a market cap of $2.87 billion, a P/E ratio of 438.25, a PEG ratio of 0.79 and a beta of 1.15. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. Driven Brands has a twelve month low of $10.59 and a twelve month high of $17.57. The company has a 50 day moving average price of $16.03 and a 200-day moving average price of $15.42.

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Driven Brands (NASDAQ:DRVN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.13. The firm had revenue of $564.12 million during the quarter, compared to analysts' expectations of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. On average, research analysts forecast that Driven Brands will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in Driven Brands during the 3rd quarter valued at approximately $697,000. Emeth Value Capital LLC bought a new stake in Driven Brands during the 4th quarter valued at approximately $41,452,000. Barclays PLC boosted its stake in Driven Brands by 36.0% during the 3rd quarter. Barclays PLC now owns 205,068 shares of the company's stock valued at $2,928,000 after purchasing an additional 54,277 shares during the period. Millrace Asset Group Inc. bought a new stake in Driven Brands during the 3rd quarter valued at approximately $1,420,000. Finally, Versor Investments LP boosted its stake in Driven Brands by 107.1% during the 4th quarter. Versor Investments LP now owns 43,900 shares of the company's stock valued at $709,000 after purchasing an additional 22,700 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

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.