Driven Brands (NASDAQ:DRVN) PT Lowered to $14.00

Driven Brands (NASDAQ:DRVN) had its price target reduced by stock analysts at The Goldman Sachs Group from $16.00 to $14.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 20.27% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada reduced their price objective on shares of Driven Brands from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, February 26th. Morgan Stanley lowered shares of Driven Brands from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $14.00 in a research note on Tuesday, January 16th. Canaccord Genuity Group raised their price objective on shares of Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. cut shares of Driven Brands from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $12.50 in a report on Friday. Finally, Piper Sandler reduced their target price on shares of Driven Brands from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Driven Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.39.

Driven Brands Trading Down 0.4 %

Shares of DRVN stock traded down $0.05 during trading hours on Friday, reaching $11.64. 2,184,179 shares of the stock were exchanged, compared to its average volume of 1,209,417. Driven Brands has a 12-month low of $10.59 and a 12-month high of $29.88. The company has a current ratio of 1.92, a quick ratio of 1.73 and a debt-to-equity ratio of 3.21. The company’s 50-day moving average price is $14.59 and its 200-day moving average price is $13.54. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -2.56, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $553.70 million for the quarter, compared to the consensus estimate of $572.92 million. Driven Brands had a negative net margin of 32.33% and a positive return on equity of 11.00%. Driven Brands’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 EPS. As a group, equities analysts anticipate that Driven Brands will post 0.88 earnings per share for the current year.

Institutional Investors Weigh In On Driven Brands

A number of hedge funds and other institutional investors have recently modified their holdings of DRVN. Allspring Global Investments Holdings LLC acquired a new position in Driven Brands during the first quarter worth about $26,000. PNC Financial Services Group Inc. lifted its holdings in Driven Brands by 877.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,679 shares of the company’s stock worth $34,000 after purchasing an additional 2,405 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Driven Brands by 126.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock worth $41,000 after purchasing an additional 1,594 shares during the last quarter. GAMMA Investing LLC increased its position in Driven Brands by 49.3% in the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after buying an additional 904 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Driven Brands by 579.2% during the fourth quarter. Parallel Advisors LLC now owns 3,437 shares of the company’s stock valued at $49,000 after purchasing an additional 2,931 shares during the period. 77.08% of the stock is currently owned by institutional investors.

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.