Driven Brands (NASDAQ:DRVN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Driven Brands (NASDAQ:DRVN) had its target price upped by Canaccord Genuity Group from $21.00 to $23.00 in a research report released on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada lifted their price target on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus lifted their price target on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. BMO Capital Markets lifted their price target on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday. Piper Sandler boosted their price objective on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.60.

Driven Brands Price Performance

Driven Brands stock opened at $17.53 on Wednesday. Driven Brands has a one year low of $10.59 and a one year high of $17.57. The stock’s fifty day moving average price is $16.03 and its two-hundred day moving average price is $15.42. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The firm has a market cap of $2.88 billion, a PE ratio of 438.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. HG Vora Capital Management LLC lifted its holdings in Driven Brands by 4.9% during the 3rd quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company’s stock worth $107,738,000 after buying an additional 350,000 shares during the period. North Peak Capital Management LLC lifted its holdings in Driven Brands by 8.6% during the 4th quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company’s stock worth $92,905,000 after buying an additional 457,217 shares during the period. Vanguard Group Inc. lifted its holdings in Driven Brands by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company’s stock worth $92,134,000 after buying an additional 31,431 shares during the period. Bamco Inc. NY lifted its holdings in Driven Brands by 35.7% during the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company’s stock worth $76,665,000 after buying an additional 1,250,000 shares during the period. Finally, Emeth Value Capital LLC acquired a new position in Driven Brands during the 4th quarter worth about $41,452,000. 77.08% of the stock is owned by institutional investors and hedge funds.

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.