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

Driven Brands (NASDAQ:DRVN - Free Report) had its price objective upped by Piper Sandler from $19.00 to $22.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently commented on DRVN. Stifel Nicolaus boosted their price target on shares of Driven Brands from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Royal Bank of Canada upped their target price on shares of Driven Brands from $17.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group upped their price target on shares of Driven Brands from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.60.

Driven Brands Trading Up 8.0 %

Shares of Driven Brands stock traded up $1.30 on Wednesday, reaching $17.53. The company had a trading volume of 1,193,012 shares, compared to its average volume of 868,983. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. The firm has a market cap of $2.87 billion, a PE ratio of 438.25, a PEG ratio of 0.79 and a beta of 1.15. The firm's 50 day moving average price is $16.03 and its two-hundred day moving average price is $15.42. Driven Brands has a 52-week low of $10.59 and a 52-week high of $17.57.

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Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.13. The firm had revenue of $564.12 million during 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 business's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. Sell-side analysts predict that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Driven Brands by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,104 shares of the company's stock worth $550,000 after purchasing an additional 1,079 shares during the period. HighTower Advisors LLC raised its holdings in Driven Brands by 5.9% in the third quarter. HighTower Advisors LLC now owns 29,161 shares of the company's stock valued at $414,000 after buying an additional 1,617 shares during the period. MetLife Investment Management LLC raised its stake in shares of Driven Brands by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 37,161 shares of the company's stock valued at $600,000 after purchasing an additional 2,003 shares during the period. Creative Planning raised its stake in shares of Driven Brands by 9.1% during the third quarter. Creative Planning now owns 33,148 shares of the company's stock valued at $473,000 after purchasing an additional 2,754 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Driven Brands by 5.5% during the fourth quarter. Legal & General Group Plc now owns 73,791 shares of the company's stock valued at $1,191,000 after purchasing an additional 3,833 shares during the period. 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.