The Goldman Sachs Group Trims Driven Brands (NASDAQ:DRVN) Target Price to $14.00

Driven Brands (NASDAQ:DRVN) had its target price lowered by The Goldman Sachs Group from $16.00 to $14.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler dropped their price objective on shares of Driven Brands from $18.00 to $14.00 and set an overweight rating on the stock in a report on Friday. Morgan Stanley downgraded shares of Driven Brands from an overweight rating to an equal weight rating and cut their price objective for the stock from $22.00 to $14.00 in a report on Tuesday, January 16th. Royal Bank of Canada lowered their target price on shares of Driven Brands from $20.00 to $17.00 and set an outperform rating on the stock in a report on Monday, February 26th. Canaccord Genuity Group raised their price target on Driven Brands from $20.00 to $21.00 and gave the stock a buy rating in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. lowered Driven Brands from an overweight rating to a neutral rating and decreased their price objective for the company from $18.00 to $12.50 in a research note on Friday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $17.61.

Driven Brands Stock Up 3.5 %

DRVN opened at $12.00 on Friday. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $28.83. The company’s 50-day moving average is $14.55 and its 200 day moving average is $13.56. The firm has a market capitalization of $1.97 billion, a P/E ratio of -2.59, a PEG ratio of 0.72 and a beta of 1.19. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.92 and a quick ratio of 1.73.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 11.38%. The company had revenue of $553.70 million for the quarter, compared to the consensus estimate of $572.92 million. During the same period in the previous year, the firm earned $0.22 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Research analysts expect that Driven Brands will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of Driven Brands

Several institutional investors and hedge funds have recently made changes to their positions in DRVN. GAMMA Investing LLC increased its stake in Driven Brands by 49.3% in the first quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock valued at $43,000 after acquiring an additional 904 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Driven Brands by 17.1% in the 4th quarter. Quent Capital LLC now owns 8,921 shares of the company’s stock worth $127,000 after purchasing an additional 1,304 shares in the last quarter. Swiss National Bank increased its position in shares of Driven Brands by 1.0% during the 3rd quarter. Swiss National Bank now owns 147,300 shares of the company’s stock valued at $1,855,000 after purchasing an additional 1,500 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Driven Brands by 126.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock valued at $41,000 after buying an additional 1,594 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Driven Brands in the 1st quarter worth approximately $26,000. Hedge funds and other institutional investors 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.