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

Driven Brands (NASDAQ:DRVN) had its price objective hoisted by investment analysts at Stifel Nicolaus from $20.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 33.66% from the stock’s previous close.

Several other brokerages have also commented on DRVN. Robert W. Baird boosted their price target on Driven Brands from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of Driven Brands in a research report on Tuesday, August 20th. Baird R W raised Driven Brands to a “strong-buy” rating in a research note on Friday, August 2nd. BMO Capital Markets assumed coverage on shares of Driven Brands in a research note on Monday, July 22nd. They issued a “market perform” rating and a $14.00 price objective on the stock. Finally, Royal Bank of Canada raised 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. Four 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.86.

Driven Brands Stock Performance

Driven Brands stock traded down $0.30 during mid-day trading on Thursday, reaching $16.46. 62,494 shares of the company were exchanged, compared to its average volume of 1,077,804. The firm’s 50-day simple moving average is $14.63 and its two-hundred day simple moving average is $13.30. Driven Brands has a twelve month low of $10.59 and a twelve month high of $16.93. The firm has a market cap of $2.70 billion, a PE ratio of 411.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11. 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) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $591.70 million during the quarter, compared to the consensus estimate of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. Equities analysts predict that Driven Brands will post 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in DRVN. Allspring Global Investments Holdings LLC purchased a new position in Driven Brands during the first quarter worth approximately $26,000. SG Americas Securities LLC purchased a new position in shares of Driven Brands in the 1st quarter worth $393,000. Sei Investments Co. boosted its holdings in Driven Brands by 12.0% in the first quarter. Sei Investments Co. now owns 78,370 shares of the company’s stock valued at $1,237,000 after acquiring an additional 8,372 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in Driven Brands during the first quarter valued at about $3,367,000. Finally, Hood River Capital Management LLC acquired a new stake in Driven Brands during the first quarter worth about $13,323,000. 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.