Driven Brands (NASDAQ:DRVN) Price Target Raised to $18.00

Driven Brands (NASDAQ:DRVN) had its price objective increased by Canaccord Genuity Group from $17.00 to $18.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently commented on the company. Wall Street Zen downgraded Driven Brands from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Benchmark reissued a “buy” rating on shares of Driven Brands in a report on Tuesday, May 26th. Robert W. Baird set a $18.00 price objective on Driven Brands and gave the company an “outperform” rating in a research note on Wednesday, May 20th. UBS Group reaffirmed a “buy” rating on shares of Driven Brands in a report on Thursday. Finally, Piper Sandler lifted their target price on Driven Brands from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.43.

Driven Brands Trading Down 1.2%

DRVN opened at $12.15 on Thursday. Driven Brands has a 12-month low of $9.80 and a 12-month high of $18.54. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.47 and a quick ratio of 1.33. The stock has a market capitalization of $2.00 billion, a PE ratio of 11.68 and a beta of 0.94. The firm’s fifty day moving average price is $13.76 and its 200 day moving average price is $13.09.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data 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%. As a group, research analysts expect that Driven Brands will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DRVN. BlackRock Inc. acquired a new stake in shares of Driven Brands during the 2nd quarter worth approximately $67,107,000. Bamco Inc. NY acquired a new position in Driven Brands during the 2nd quarter valued at approximately $62,766,000. Boston Partners boosted its position in Driven Brands by 1,301.0% during the 4th quarter. Boston Partners now owns 3,426,388 shares of the company’s stock valued at $50,783,000 after purchasing an additional 3,181,812 shares during the period. Rubric Capital Management LP bought a new position in Driven Brands during the 1st quarter worth $37,830,000. Finally, Jupiter Topco LLC bought a new position in Driven Brands during the 2nd quarter worth $35,214,000. 77.08% of the stock is owned by institutional investors and hedge funds.

About Driven Brands

Driven Brands Holdings Inc is an automotive services company that operates and franchises a network of businesses serving vehicle owners and commercial customers. Its services include routine vehicle maintenance, oil changes, automotive repair, collision repair, paint and glass services, and car washing.

The company’s portfolio includes brands such as Take 5 Oil Change, Meineke Car Care Centers, MAACO, CARSTAR, and Fix Auto. Through these brands, Driven Brands provides services ranging from preventative maintenance and mechanical repairs to bodywork, paint repair, windshield replacement, and vehicle appearance care.