Driven Brands (NASDAQ:DRVN) Given New $20.00 Price Target at The Goldman Sachs Group

Driven Brands (NASDAQ:DRVN) had its target price lifted by The Goldman Sachs Group from $16.00 to $20.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts also recently weighed in on DRVN. Piper Sandler lifted their price target on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. BMO Capital Markets increased their target price on shares of Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Robert W. Baird set a $25.00 price target on Driven Brands in a report on Thursday, March 13th. Canaccord Genuity Group raised their price objective on Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, Benchmark started coverage on Driven Brands in a research report on Friday, April 4th. They issued a “buy” rating and a $22.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.78.

Driven Brands Trading Down 1.2 %

NASDAQ:DRVN opened at $18.26 on Wednesday. Driven Brands has a 12-month low of $10.64 and a 12-month high of $18.72. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The stock’s 50 day simple moving average is $16.65 and its 200-day simple moving average is $16.26. The firm has a market cap of $3.00 billion, a P/E ratio of 456.43, a PEG ratio of 0.79 and a beta of 1.10.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The company had revenue of $516.16 million during the quarter, compared to the consensus estimate of $492.19 million. During the same quarter in the prior year, the firm earned $0.23 EPS. Driven Brands’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts anticipate that Driven Brands will post 0.85 EPS for the current year.

Institutional Trading of Driven Brands

Several hedge funds and other institutional investors have recently bought and sold shares of DRVN. Blue Trust Inc. grew its position in shares of Driven Brands by 600.5% in the fourth quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock valued at $148,000 after purchasing an additional 7,885 shares during the period. LPL Financial LLC purchased a new stake in Driven Brands in the 4th quarter valued at about $178,000. BNP Paribas Financial Markets acquired a new position in shares of Driven Brands during the 4th quarter valued at about $205,000. SBI Securities Co. Ltd. purchased a new position in shares of Driven Brands during the 4th quarter worth about $215,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Driven Brands in the fourth quarter worth approximately $216,000. 77.08% of the stock is owned by hedge funds and other 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.