Driven Brands (NASDAQ:DRVN - Free Report) had its price target hoisted by Canaccord Genuity Group from $21.00 to $23.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.
Several other research analysts have also issued reports on the stock. Stifel Nicolaus upped their target price on shares of Driven Brands from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. BMO Capital Markets upped their target price on shares of Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research report on Wednesday. Royal Bank of Canada upped 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. JPMorgan Chase & Co. upped their target price on shares of Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Piper Sandler upped their target price on shares of Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Wednesday. Three 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $19.60.
Check Out Our Latest Research Report on DRVN
Driven Brands Stock Performance
Shares of NASDAQ:DRVN traded up $1.30 during mid-day trading on Wednesday, reaching $17.53. The company had a trading volume of 1,193,012 shares, compared to its average volume of 867,901. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 438.25, a PEG ratio of 0.79 and a beta of 1.15. The company's 50-day moving average price is $16.03 and its 200-day moving average price is $15.44. Driven Brands has a one year low of $10.59 and a one year high of $17.57.
Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business had revenue of $564.12 million for the quarter, compared to analysts' expectations of $572.95 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Driven Brands will post 0.85 EPS for the current fiscal year.
Hedge Funds Weigh In On Driven Brands
Several hedge funds and other institutional investors have recently modified their holdings of DRVN. Emeth Value Capital LLC bought a new position in shares of Driven Brands during the fourth quarter valued at about $41,452,000. Bamco Inc. NY raised its stake in shares of Driven Brands by 35.7% during the fourth quarter. Bamco Inc. NY now owns 4,750,000 shares of the company's stock valued at $76,665,000 after acquiring an additional 1,250,000 shares during the last quarter. Scopia Capital Management LP bought a new position in shares of Driven Brands during the third quarter valued at about $16,890,000. North Peak Capital Management LLC raised its stake in shares of Driven Brands by 8.6% during the fourth quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company's stock valued at $92,905,000 after acquiring an additional 457,217 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Driven Brands by 54.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company's stock valued at $19,141,000 after acquiring an additional 416,744 shares during the last quarter. 77.08% of the stock is owned by institutional investors.
About Driven Brands
(
Get Free Report)
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.
Further Reading
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