Stifel Nicolaus Forecasts Strong Price Appreciation for Driven Brands (NASDAQ:DRVN) Stock

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

Several other brokerages have also issued reports on DRVN. Baird R W raised Driven Brands to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price objective on Driven Brands from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Royal Bank of Canada upped their target price on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group raised their price target on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, BMO Capital Markets started coverage on shares of Driven Brands in a research note on Monday, July 22nd. They issued a “market perform” rating and a $14.00 price objective on the stock. Four equities 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.86.

Driven Brands Stock Performance

NASDAQ DRVN opened at $16.64 on Thursday. The firm’s fifty day moving average price is $14.73 and its two-hundred day moving average price is $13.32. The stock has a market cap of $2.73 billion, a PE ratio of 416.00, a PEG ratio of 1.10 and a beta of 1.11. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $16.93.

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

Hedge Funds Weigh In On Driven Brands

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in Driven Brands in the 1st quarter valued at $26,000. nVerses Capital LLC bought a new stake in shares of Driven Brands during the third quarter worth about $86,000. Innealta Capital LLC acquired a new stake in shares of Driven Brands in the 2nd quarter worth about $86,000. Townsquare Capital LLC bought a new position in Driven Brands in the 3rd quarter valued at about $153,000. Finally, Bleakley Financial Group LLC acquired a new position in Driven Brands during the 3rd quarter valued at about $171,000. 77.08% of the stock is owned by institutional investors and hedge funds.

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.