Driven Brands (NASDAQ:DRVN) Given New $16.00 Price Target at BMO Capital Markets

Driven Brands (NASDAQ:DRVN) had its target price lifted by BMO Capital Markets from $15.00 to $16.00 in a research report report published on Wednesday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other research analysts also recently commented on the company. Canaccord Genuity Group lifted their target price on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 1st. Piper Sandler raised their price objective on shares of Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday. Stifel Nicolaus upped their target price 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. Finally, Royal Bank of Canada raised their price target on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Three equities research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.60.

Driven Brands Stock Performance

NASDAQ DRVN opened at $16.35 on Wednesday. The firm has a market cap of $2.68 billion, a P/E ratio of 408.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15. 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’s 50 day moving average is $16.00 and its 200-day moving average is $15.39. Driven Brands has a 12-month low of $10.59 and a 12-month high of $17.45.

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

Institutional Trading of Driven Brands

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Emeth Value Capital LLC bought a new position in Driven Brands in the fourth quarter valued at $41,452,000. Bamco Inc. NY boosted its holdings in shares of Driven Brands by 35.7% in the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company’s stock worth $76,665,000 after purchasing an additional 1,250,000 shares in the last quarter. Scopia Capital Management LP purchased a new stake in Driven Brands in the third quarter worth approximately $16,890,000. North Peak Capital Management LLC boosted its stake in shares of Driven Brands by 8.6% in the 4th quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company’s stock valued at $92,905,000 after purchasing an additional 457,217 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Driven Brands by 54.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company’s stock worth $19,141,000 after purchasing an additional 416,744 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

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.