Stifel Nicolaus Increases Driven Brands (NASDAQ:DRVN) Price Target to $22.00

Driven Brands (NASDAQ:DRVN) had its price target lifted by Stifel Nicolaus from $20.00 to $22.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also commented on DRVN. Royal Bank of Canada raised 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 raised Driven Brands to a “strong-buy” rating in a research report on Friday, August 2nd. BMO Capital Markets initiated coverage on Driven Brands in a research report on Monday, July 22nd. They set a “market perform” rating and a $14.00 price objective for the company. The Goldman Sachs Group upped their target price on Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Piper Sandler restated an “overweight” rating and set a $17.00 price target (up from $14.00) on shares of Driven Brands in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.86.

Driven Brands Stock Performance

Shares of NASDAQ DRVN opened at $16.64 on Thursday. Driven Brands has a 52-week low of $10.59 and a 52-week high of $16.93. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 416.00, a PEG ratio of 1.11 and a beta of 1.11. 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 stock’s fifty day simple moving average is $14.73 and its 200 day simple moving average is $13.33.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The firm had revenue of $591.70 million for the quarter, compared to analysts’ expectations of $598.49 million. During the same quarter last year, the business posted $0.19 EPS. Driven Brands’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Driven Brands will post 0.86 earnings per share for the current fiscal year.

Institutional Trading of Driven Brands

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in shares of Driven Brands by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,511,230 shares of the company’s stock valued at $21,570,000 after purchasing an additional 19,681 shares during the last quarter. Barclays PLC boosted its stake in shares of Driven Brands by 36.0% during the 3rd quarter. Barclays PLC now owns 205,068 shares of the company’s stock worth $2,928,000 after acquiring an additional 54,277 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Driven Brands by 54.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,398 shares of the company’s stock valued at $234,000 after acquiring an additional 5,815 shares during the last quarter. State Street Corp raised its stake in shares of Driven Brands by 2.2% in the 3rd quarter. State Street Corp now owns 1,424,332 shares of the company’s stock valued at $20,325,000 after acquiring an additional 30,852 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in Driven Brands by 7.5% in the 3rd quarter. Stifel Financial Corp now owns 193,021 shares of the company’s stock worth $2,754,000 after purchasing an additional 13,510 shares during the last quarter. 77.08% of the stock is owned by institutional investors.

About Driven Brands

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.