Driven Brands (NASDAQ:DRVN) Now Covered by Analysts at Benchmark

Investment analysts at Benchmark began coverage on shares of Driven Brands (NASDAQ:DRVN - Get Free Report) in a research report issued on Friday, Marketbeat Ratings reports. The firm set a "buy" rating and a $22.00 price target on the stock. Benchmark's price target would indicate a potential upside of 36.06% from the stock's current price.

A number of other brokerages have also commented on DRVN. Robert W. Baird set a $25.00 target price on Driven Brands in a research report on Thursday, March 13th. JPMorgan Chase & Co. raised their price objective on shares of Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Piper Sandler increased their price target on shares of Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. BMO Capital Markets lifted their price objective on Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group increased their target price on Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Driven Brands has an average rating of "Moderate Buy" and an average target price of $20.50.

Driven Brands Trading Up 7.9 %

NASDAQ DRVN traded up $1.18 during mid-day trading on Friday, reaching $16.17. 311,426 shares of the stock were exchanged, compared to its average volume of 900,446. The stock has a market capitalization of $2.65 billion, a PE ratio of 406.85, a PEG ratio of 0.79 and a beta of 1.09. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. Driven Brands has a 1-year low of $10.59 and a 1-year high of $18.01. The business's fifty day simple moving average is $16.46 and its 200 day simple moving average is $15.95.

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

Hedge Funds Weigh In On Driven Brands

Institutional investors have recently made changes to their positions in the stock. Versor Investments LP increased its position in shares of Driven Brands by 107.1% during the fourth quarter. Versor Investments LP now owns 43,900 shares of the company's stock worth $709,000 after acquiring an additional 22,700 shares in the last quarter. Emeth Value Capital LLC bought a new stake in Driven Brands during the 4th quarter worth approximately $41,452,000. Barclays PLC increased its holdings in Driven Brands by 36.0% during the 3rd quarter. Barclays PLC now owns 205,068 shares of the company's stock worth $2,928,000 after purchasing an additional 54,277 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Driven Brands by 44.4% in the fourth quarter. Bank of New York Mellon Corp now owns 254,542 shares of the company's stock worth $4,108,000 after purchasing an additional 78,252 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Driven Brands in the fourth quarter valued at approximately $375,000. Institutional investors and hedge funds 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.