Driven Brands (NASDAQ:DRVN) Given New $20.00 Price Target at Royal Bank of Canada

Driven Brands (NASDAQ:DRVN - Free Report) had its price target upped by Royal Bank of Canada from $17.00 to $20.00 in a report issued on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities analysts also recently issued reports on the stock. Benchmark reaffirmed a "buy" rating and set a $20.00 price objective on shares of Driven Brands in a report on Tuesday, August 20th. Baird R W upgraded Driven Brands to a "strong-buy" rating in a research note on Friday, August 2nd. Robert W. Baird lifted their price objective on shares of Driven Brands from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. 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 report on Friday. Finally, BMO Capital Markets began coverage on Driven Brands in a research note on Monday, July 22nd. They set a "market perform" rating and a $14.00 price target on the stock. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Driven Brands presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.45.

Driven Brands Stock Down 0.7 %

Shares of DRVN traded down $0.10 during mid-day trading on Friday, hitting $14.75. The company's stock had a trading volume of 1,119,186 shares, compared to its average volume of 1,097,191. The company has a current ratio of 2.11, a quick ratio of 1.91 and a debt-to-equity ratio of 3.03. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -3.18, a PEG ratio of 0.85 and a beta of 1.13. The company's 50-day moving average is $14.31 and its 200-day moving average is $13.21. Driven Brands has a 52-week low of $10.59 and a 52-week high of $16.00.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.07. The business had revenue of $611.60 million for the quarter, compared to analyst estimates of $628.34 million. Driven Brands had a negative net margin of 33.56% and a positive return on equity of 15.12%. Driven Brands's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 EPS. On average, equities research analysts forecast that Driven Brands will post 0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC increased its stake in Driven Brands by 396.7% in the second quarter. SG Americas Securities LLC now owns 123,531 shares of the company's stock valued at $1,573,000 after purchasing an additional 98,662 shares during the last quarter. Bamco Inc. NY boosted its position in shares of Driven Brands by 14.3% in the first quarter. Bamco Inc. NY now owns 2,000,000 shares of the company's stock worth $31,580,000 after acquiring an additional 250,000 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Driven Brands in the second quarter valued at approximately $816,000. Sei Investments Co. increased its position in Driven Brands by 12.0% during the first quarter. Sei Investments Co. now owns 78,370 shares of the company's stock worth $1,237,000 after purchasing an additional 8,372 shares during the last quarter. Finally, Norden Group LLC purchased a new position in Driven Brands during the first quarter worth approximately $182,000. 77.08% of the stock is owned by institutional investors and hedge funds.

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.