Driven Brands (NASDAQ:DRVN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Driven Brands (NASDAQ:DRVN - Free Report) had its price target raised by JPMorgan Chase & Co. from $14.50 to $17.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

DRVN has been the topic of several other research reports. BMO Capital Markets boosted their price target on Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on Driven Brands from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Piper Sandler boosted their price target on Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday. Royal Bank of Canada boosted their price target on Driven Brands from $17.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group upped their target price on Driven Brands from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Driven Brands has an average rating of "Moderate Buy" and a consensus price target of $19.60.

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Driven Brands Stock Performance

DRVN traded up $1.30 during trading on Wednesday, reaching $17.53. The company's stock had a trading volume of 1,193,012 shares, compared to its average volume of 867,901. Driven Brands has a 52-week low of $10.59 and a 52-week high of $17.57. The company's fifty day moving average price is $16.03 and its 200-day moving average price is $15.44. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 438.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15. 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 announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 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 analyst estimates of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company's quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 EPS. On average, equities analysts forecast that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of Driven Brands

A number of institutional investors and hedge funds have recently made changes to their positions in DRVN. Creative Planning increased its holdings in shares of Driven Brands by 9.1% during the 3rd quarter. Creative Planning now owns 33,148 shares of the company's stock worth $473,000 after buying an additional 2,754 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Driven Brands during the 3rd quarter worth $303,000. GSA Capital Partners LLP acquired a new stake in shares of Driven Brands during the 3rd quarter worth $697,000. Intech Investment Management LLC acquired a new stake in shares of Driven Brands during the 3rd quarter worth $245,000. Finally, North Peak Capital Management LLC increased its holdings in shares of Driven Brands by 1.8% during the 3rd quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company's stock worth $75,617,000 after buying an additional 95,529 shares during the last quarter. 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.