Driven Brands (NASDAQ:DRVN) Price Target Raised to $18.00 at Canaccord Genuity Group

Driven Brands (NASDAQ:DRVN) had its target price hoisted by investment analysts at Canaccord Genuity Group from $17.00 to $18.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 48.58% from the company’s previous close.

A number of other brokerages also recently weighed in on DRVN. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $14.75 price objective on shares of Driven Brands in a research report on Wednesday, May 20th. Robert W. Baird set a $18.00 price target on Driven Brands and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Weiss Ratings raised shares of Driven Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 25th. BTIG Research reiterated a “buy” rating and set a $17.00 price objective on shares of Driven Brands in a report on Friday, June 12th. Finally, Wall Street Zen downgraded Driven Brands from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.43.

Driven Brands Stock Performance

Shares of NASDAQ DRVN traded down $0.41 during mid-day trading on Thursday, hitting $12.12. The stock had a trading volume of 1,199,106 shares, compared to its average volume of 1,424,986. Driven Brands has a twelve month low of $9.80 and a twelve month high of $18.60. The company has a 50 day moving average of $13.85 and a two-hundred day moving average of $13.13. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.33 and a current ratio of 1.47. The firm has a market cap of $2.00 billion, a PE ratio of 11.63 and a beta of 0.94.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Monday, July 27th. The company reported $0.29 earnings per share for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. Research analysts predict that Driven Brands will post 1.12 EPS for the current fiscal year.

Institutional Trading of Driven Brands

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Driven Brands by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock worth $610,000 after purchasing an additional 1,493 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Driven Brands by 22.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 139,321 shares of the company’s stock worth $2,388,000 after buying an additional 25,806 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Driven Brands by 10.0% in the second quarter. New York State Common Retirement Fund now owns 16,511 shares of the company’s stock worth $290,000 after acquiring an additional 1,500 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Driven Brands by 95.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 255,156 shares of the company’s stock valued at $4,481,000 after buying an additional 124,556 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Driven Brands by 744.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after buying an additional 1,854 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

About Driven Brands

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.