Royal Bank of Canada Boosts Driven Brands (NASDAQ:DRVN) Price Target to $20.00

Driven Brands (NASDAQ:DRVN) had its price target boosted by equities research analysts at Royal Bank of Canada from $17.00 to $20.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 35.59% from the stock’s current price.

A number of other analysts have also weighed in on DRVN. The Goldman Sachs Group increased their price objective on shares of Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Robert W. Baird upped their price target on shares of Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Baird R W upgraded Driven Brands to a “strong-buy” rating in a research note on Friday, August 2nd. Canaccord Genuity Group upped 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. Finally, BMO Capital Markets began coverage on Driven Brands in a research report on Monday, July 22nd. They set a “market perform” rating and a $14.00 price target for the company. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Driven Brands presently has an average rating of “Moderate Buy” and an average price target of $17.45.

Driven Brands Trading Down 0.7 %

NASDAQ DRVN opened at $14.75 on Friday. Driven Brands has a 12-month low of $10.59 and a 12-month high of $16.00. The company has a fifty day simple moving average of $14.31 and a two-hundred day simple moving average of $13.21. The company has a current ratio of 2.11, a quick ratio of 1.91 and a debt-to-equity ratio of 3.03. The stock has a market cap of $2.42 billion, a P/E ratio of 368.75, a P/E/G ratio of 0.89 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN) last issued its earnings results on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. The company had revenue of $611.60 million during the quarter, compared to analyst estimates of $628.34 million. Driven Brands had a return on equity of 15.03% and a net margin of 0.27%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. On average, analysts forecast that Driven Brands will post 0.88 earnings per share for the current year.

Institutional Investors Weigh In On Driven Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bamco Inc. NY grew its position in shares of Driven Brands by 14.3% in the first quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock valued at $31,580,000 after purchasing an additional 250,000 shares during the period. AQR Capital Management LLC boosted its holdings in Driven Brands by 79.9% in the 2nd quarter. AQR Capital Management LLC now owns 929,073 shares of the company’s stock worth $11,483,000 after buying an additional 412,547 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in Driven Brands during the 1st quarter worth approximately $13,323,000. Marshall Wace LLP raised its holdings in shares of Driven Brands by 516.2% during the second quarter. Marshall Wace LLP now owns 612,436 shares of the company’s stock valued at $7,796,000 after acquiring an additional 513,045 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Driven Brands by 15.3% in the second quarter. Squarepoint Ops LLC now owns 241,306 shares of the company’s stock valued at $3,072,000 after acquiring an additional 31,978 shares in the last quarter. 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.