BMO Capital Markets Boosts Driven Brands (NASDAQ:DRVN) Price Target to $16.00

Driven Brands (NASDAQ:DRVN) had its price target increased by stock analysts at BMO Capital Markets from $15.00 to $16.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential downside of 1.42% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Royal Bank of Canada boosted 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. Piper Sandler upped their price target on shares of Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday. Stifel Nicolaus lifted their price objective on shares of Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group increased their target price on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.60.

Driven Brands Price Performance

DRVN opened at $16.23 on Wednesday. The firm has a market cap of $2.66 billion, a P/E ratio of 405.75, a PEG 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 has a fifty-two week low of $10.59 and a fifty-two week high of $17.45. The firm has a 50-day moving average of $16.00 and a 200 day moving average of $15.39.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The company had revenue of $564.12 million during the quarter, compared to analyst estimates of $572.95 million. During the same quarter last year, the business posted $0.19 EPS. Driven Brands’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts expect that Driven Brands will post 0.85 EPS for the current year.

Hedge Funds Weigh In On Driven Brands

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in shares of Driven Brands by 600.5% during the fourth quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock worth $148,000 after purchasing an additional 7,885 shares in the last quarter. Townsquare Capital LLC purchased a new position in Driven Brands in the 3rd quarter worth approximately $153,000. LPL Financial LLC bought a new position in shares of Driven Brands in the 4th quarter worth $178,000. BNP Paribas Financial Markets purchased a new stake in shares of Driven Brands during the 4th quarter valued at $205,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Driven Brands during the 4th quarter worth $215,000. 77.08% of the stock is currently owned by institutional investors.

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.