Driven Brands (NASDAQ:DRVN) Given New $22.00 Price Target at Stifel Nicolaus

Driven Brands (NASDAQ:DRVN) had its price objective increased by Stifel Nicolaus from $20.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 33.66% from the company’s previous close.

DRVN has been the topic of a number of other reports. Robert W. Baird increased their price objective on Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. 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 note on Friday, November 1st. Baird R W upgraded shares of Driven Brands to a “strong-buy” rating in a research report on Friday, August 2nd. BMO Capital Markets assumed coverage on Driven Brands in a research report on Monday, July 22nd. They set a “market perform” rating and a $14.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price objective on Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Four 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 stock. Based on data from MarketBeat.com, Driven Brands currently has an average rating of “Moderate Buy” and an average target price of $17.86.

Driven Brands Stock Down 1.8 %

Driven Brands stock traded down $0.30 during trading hours on Thursday, reaching $16.46. The stock had a trading volume of 62,494 shares, compared to its average volume of 1,077,804. The business’s 50 day moving average price is $14.63 and its 200-day moving average price is $13.30. 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 52 week low of $10.59 and a 52 week high of $16.93. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 411.50, a PEG ratio of 1.11 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $591.70 million for the quarter, compared to the consensus estimate of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. Driven Brands’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 EPS. Sell-side analysts anticipate that Driven Brands will post 0.86 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in Driven Brands in the 1st quarter valued at approximately $26,000. Innealta Capital LLC acquired a new position in Driven Brands during the 2nd quarter worth approximately $86,000. nVerses Capital LLC purchased a new position in Driven Brands in the third quarter valued at $86,000. Townsquare Capital LLC purchased a new stake in shares of Driven Brands during the 3rd quarter worth approximately $153,000. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Driven Brands during the third quarter worth about $171,000. 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.