BMO Capital Markets Forecasts Strong Price Appreciation for Driven Brands (NASDAQ:DRVN) Stock

Driven Brands (NASDAQ:DRVN) had its price target lifted by analysts at BMO Capital Markets from $15.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 0.25% from the company’s previous close.

Several other research firms have also recently weighed in on DRVN. Canaccord Genuity Group lifted their price objective on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 1st. 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 report on Friday, November 1st. Piper Sandler boosted 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. Finally, Stifel Nicolaus increased their target price on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.95.

Driven Brands Trading Up 2.0 %

NASDAQ DRVN traded up $0.32 during trading on Wednesday, reaching $15.96. 45,487 shares of the stock traded hands, compared to its average volume of 500,151. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $17.45. 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 firm has a market cap of $2.62 billion, a price-to-earnings ratio of 399.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15. The stock’s 50-day moving average price is $15.99 and its 200 day moving average price is $15.38.

Driven Brands (NASDAQ:DRVN) last announced 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. The company had revenue of $564.12 million during the quarter, compared to analyst estimates of $572.95 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS. Analysts predict that Driven Brands will post 0.85 EPS for the current year.

Institutional Investors Weigh In On Driven Brands

A number of institutional investors have recently made changes to their positions in DRVN. Creative Planning lifted its holdings in Driven Brands by 9.1% during the 3rd quarter. Creative Planning now owns 33,148 shares of the company’s stock worth $473,000 after purchasing an additional 2,754 shares during the last quarter. Versor Investments LP bought a new position in Driven Brands during the 3rd quarter worth $303,000. GSA Capital Partners LLP acquired a new stake in shares of Driven Brands during the third quarter worth $697,000. Intech Investment Management LLC bought a new stake in shares of Driven Brands in the third quarter valued at about $245,000. Finally, North Peak Capital Management LLC grew its stake in shares of Driven Brands by 1.8% in the third quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock valued at $75,617,000 after acquiring an additional 95,529 shares in the last quarter. 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.