Piper Sandler Increases Driven Brands (NASDAQ:DRVN) Price Target to $22.00

Driven Brands (NASDAQ:DRVN) had its price objective hoisted by equities researchers at Piper Sandler from $19.00 to $22.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 40.66% from the stock’s current price.

Several other analysts have also weighed in on the company. Royal Bank of Canada upped their price objective on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus increased their price objective on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group lifted their target price on shares of Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.75.

Driven Brands Stock Up 2.1 %

DRVN stock opened at $15.64 on Wednesday. The firm’s 50-day moving average is $15.99 and its two-hundred day moving average is $15.38. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 391.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15. Driven Brands has a 52 week low of $10.59 and a 52 week high of $17.45. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84.

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

Hedge Funds Weigh In On Driven Brands

Large investors have recently bought and sold shares of the company. Mackenzie Financial Corp raised its position in shares of Driven Brands by 260.7% in the fourth quarter. Mackenzie Financial Corp now owns 44,453 shares of the company’s stock valued at $717,000 after purchasing an additional 32,130 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Driven Brands by 27.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 113,515 shares of the company’s stock valued at $1,832,000 after acquiring an additional 24,112 shares during the last quarter. State of Wyoming acquired a new position in Driven Brands during the 4th quarter worth approximately $351,000. Seven Six Capital Management LLC bought a new position in Driven Brands in the fourth quarter valued at about $2,431,000. Finally, ProShare Advisors LLC raised its stake in shares of Driven Brands by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 16,875 shares of the company’s stock valued at $272,000 after acquiring an additional 5,551 shares during the last quarter. Institutional investors and hedge funds 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.