JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Driven Brands (NASDAQ:DRVN) Stock

Driven Brands (NASDAQ:DRVN) had its price objective lifted by analysts at JPMorgan Chase & Co. from $14.50 to $17.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 4.74% from the company’s previous close.

DRVN has been the topic of a number of other reports. Piper Sandler raised their price target on shares of Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank of Canada increased their target price on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Stifel Nicolaus lifted their price target on shares of Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. BMO Capital Markets increased their price objective on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Canaccord Genuity Group boosted their target price on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.60.

Driven Brands Stock Performance

Shares of NASDAQ:DRVN opened at $16.23 on Wednesday. The firm has a 50 day moving average of $16.00 and a 200 day moving average of $15.39. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 405.75, 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.

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

Institutional Trading of Driven Brands

Several large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in shares of Driven Brands during the third quarter worth about $697,000. Emeth Value Capital LLC acquired a new stake in Driven Brands during the 4th quarter valued at approximately $41,452,000. Barclays PLC boosted its holdings in shares of Driven Brands by 36.0% in the 3rd quarter. Barclays PLC now owns 205,068 shares of the company’s stock valued at $2,928,000 after acquiring an additional 54,277 shares during the last quarter. Millrace Asset Group Inc. acquired a new stake in shares of Driven Brands in the third quarter worth $1,420,000. Finally, North Peak Capital Management LLC increased its stake in shares of Driven Brands by 1.8% in the third quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock worth $75,617,000 after acquiring an additional 95,529 shares during the period. 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.