Driven Brands (NASDAQ:DRVN) Price Target Raised to $22.00 at Stifel Nicolaus

Driven Brands (NASDAQ:DRVN - Get Free Report) had its price target upped by research analysts at Stifel Nicolaus from $20.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price target would suggest a potential upside of 32.77% from the company's current price.

A number of other brokerages also recently weighed in on DRVN. Royal Bank of Canada upped their price objective on Driven Brands from $17.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. The Goldman Sachs Group upped their price objective on shares of Driven Brands from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Piper Sandler restated an "overweight" rating and set a $17.00 target price (up previously from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Baird R W upgraded shares of Driven Brands to a "strong-buy" rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group raised their price objective on shares of Driven Brands from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.86.

Driven Brands Stock Down 1.1 %

NASDAQ DRVN traded down $0.19 during trading hours on Thursday, hitting $16.57. 541,353 shares of the company traded hands, compared to its average volume of 1,079,971. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 411.50, a P/E/G ratio of 1.11 and a beta of 1.11. Driven Brands has a twelve month low of $10.59 and a twelve month high of $16.93. The business's 50-day moving average is $14.63 and its 200-day moving average is $13.30. 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 (NASDAQ:DRVN - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The business had revenue of $591.70 million during the quarter, compared to analysts' expectations of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm's revenue was up 1.8% on a year-over-year basis. During the same period last year, the business earned $0.19 earnings per share. Sell-side analysts anticipate that Driven Brands will post 0.86 earnings per share for the current year.

Hedge Funds Weigh In On Driven Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in Driven Brands during the first quarter worth $26,000. Innealta Capital LLC acquired a new stake in Driven Brands in the second quarter valued at about $86,000. nVerses Capital LLC acquired a new position in Driven Brands during the third quarter worth about $86,000. Townsquare Capital LLC bought a new position in shares of Driven Brands in the third quarter worth about $153,000. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Driven Brands in the 3rd quarter valued at approximately $171,000. 77.08% of the stock is currently 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.