Driven Brands (NASDAQ:DRVN) Price Target Raised to $17.00 at JPMorgan Chase & Co.

Driven Brands (NASDAQ:DRVN) had its price objective hoisted by JPMorgan Chase & Co. from $14.50 to $17.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also issued reports on the stock. BMO Capital Markets boosted their target price on shares of Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday. Stifel Nicolaus raised their price target on shares of Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Canaccord Genuity Group upped their price objective 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. Royal Bank of Canada lifted their target price on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Piper Sandler boosted their price target on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

Driven Brands Stock Performance

Shares of DRVN opened at $16.35 on Wednesday. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. Driven Brands has a one year low of $10.59 and a one year high of $17.45. The company’s fifty day moving average price is $16.00 and its 200 day moving average price is $15.39. The company has a market capitalization of $2.68 billion, a PE ratio of 408.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.13. The firm had revenue of $564.12 million during the quarter, compared to the consensus estimate of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. As a group, analysts expect that Driven Brands will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On Driven Brands

A number of institutional investors have recently added to or reduced their stakes in DRVN. Creative Planning lifted its position in shares of Driven Brands by 9.1% during the 3rd quarter. Creative Planning now owns 33,148 shares of the company’s stock worth $473,000 after buying an additional 2,754 shares during the period. Versor Investments LP acquired a new position in Driven Brands during the third quarter worth $303,000. GSA Capital Partners LLP bought a new position in shares of Driven Brands during the third quarter valued at $697,000. Intech Investment Management LLC bought a new stake in shares of Driven Brands in the 3rd quarter worth about $245,000. Finally, North Peak Capital Management LLC grew its holdings in shares of Driven Brands by 1.8% in the 3rd quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock worth $75,617,000 after purchasing an additional 95,529 shares during the last quarter. 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.