Driven Brands (NASDAQ:DRVN) Price Target Cut to $22.00

Driven Brands (NASDAQ:DRVN) had its price objective decreased by Barclays from $25.00 to $22.00 in a research note released on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms also recently commented on DRVN. Canaccord Genuity Group decreased their price objective on shares of Driven Brands from $21.00 to $17.00 and set a buy rating for the company in a report on Friday, May 3rd. The Goldman Sachs Group lowered their price objective on shares of Driven Brands from $16.00 to $14.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. Piper Sandler decreased their target price on shares of Driven Brands from $18.00 to $14.00 and set an overweight rating for the company in a report on Friday, May 3rd. JPMorgan Chase & Co. downgraded Driven Brands from an overweight rating to a neutral rating and dropped their target price for the company from $18.00 to $12.50 in a report on Friday, May 3rd. Finally, Morgan Stanley cut Driven Brands from an overweight rating to an equal weight rating and reduced their price objective for the company from $22.00 to $14.00 in a research report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Driven Brands has a consensus rating of Moderate Buy and a consensus target price of $17.61.

Driven Brands Price Performance

DRVN stock opened at $11.23 on Monday. The business’s 50-day moving average is $14.49 and its two-hundred day moving average is $13.57. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.92 and a quick ratio of 1.73. Driven Brands has a 1 year low of $10.59 and a 1 year high of $28.51. The firm has a market capitalization of $1.84 billion, a P/E ratio of -2.47, a P/E/G ratio of 0.72 and a beta of 1.19.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Driven Brands had a positive return on equity of 11.38% and a negative net margin of 33.30%. The business had revenue of $553.70 million during the quarter, compared to the consensus estimate of $572.92 million. During the same quarter in the previous year, the company posted $0.22 EPS. The business’s revenue was up 2.6% on a year-over-year basis. Analysts anticipate that Driven Brands will post 0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kestrel Investment Management Corp acquired a new stake in shares of Driven Brands in the fourth quarter valued at approximately $3,067,000. TimesSquare Capital Management LLC raised its holdings in shares of Driven Brands by 15.3% during the third quarter. TimesSquare Capital Management LLC now owns 2,052,348 shares of the company’s stock valued at $25,839,000 after purchasing an additional 272,815 shares during the period. Numerai GP LLC acquired a new stake in shares of Driven Brands in the 3rd quarter worth about $1,819,000. Jump Financial LLC purchased a new stake in Driven Brands in the 3rd quarter valued at $2,658,000. Finally, Graham Capital Management L.P. purchased a new position in Driven Brands during the third quarter worth about $2,524,000. 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.