Driven Brands (NASDAQ:DRVN) Stock Price Expected to Rise, Piper Sandler Analyst Says

Driven Brands (NASDAQ:DRVN) had its price objective upped by analysts 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 indicates a potential upside of 35.55% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Canaccord Genuity Group increased their target price 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 increased their price objective on shares of Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus boosted their target price on shares of Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Three investment 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.60.

Driven Brands Stock Performance

Shares of Driven Brands stock opened at $16.23 on Wednesday. The company’s 50 day moving average price is $16.00 and its two-hundred day moving average price is $15.39. The firm has a market capitalization of $2.66 billion, a P/E ratio of 405.75, a P/E/G ratio of 0.79 and a beta of 1.15. 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 fifty-two week low of $10.59 and a fifty-two week high of $17.45.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.13. The company 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 was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 earnings per share. On average, equities analysts forecast that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Several hedge funds and other institutional investors have recently bought and sold shares of DRVN. Blue Trust Inc. boosted its position in shares of Driven Brands by 600.5% during the 4th 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 acquired a new position in Driven Brands during the 3rd quarter worth approximately $153,000. LPL Financial LLC bought a new position in Driven Brands in the fourth quarter worth approximately $178,000. BNP Paribas Financial Markets acquired a new stake in Driven Brands in the fourth quarter valued at approximately $205,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Driven Brands during the fourth quarter valued at approximately $215,000. 77.08% of the stock is owned by institutional investors.

Driven Brands Company Profile

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.