Driven Brands (NASDAQ:DRVN) Given New $16.00 Price Target at The Goldman Sachs Group

Driven Brands (NASDAQ:DRVN) had its price target lifted by The Goldman Sachs Group from $14.00 to $16.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued research reports about the company. Barclays lowered their target price on Driven Brands from $25.00 to $22.00 and set an overweight rating on the stock in a research note on Monday, May 6th. BMO Capital Markets assumed coverage on Driven Brands in a research note on Monday, July 22nd. They issued a market perform rating and a $14.00 target price on the stock. JPMorgan Chase & Co. cut Driven Brands from an overweight rating to a neutral rating and reduced their price target for the stock from $18.00 to $12.50 in a research report on Friday, May 3rd. Piper Sandler reduced their price target on Driven Brands from $18.00 to $14.00 and set an overweight rating for the company in a research report on Friday, May 3rd. Finally, Canaccord Genuity Group reduced their price target on Driven Brands from $21.00 to $17.00 and set a buy rating for the company in a research report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Driven Brands has an average rating of Moderate Buy and an average target price of $17.68.

Driven Brands Trading Down 6.5 %

Shares of DRVN stock opened at $13.57 on Friday. Driven Brands has a 1-year low of $10.59 and a 1-year high of $16.57. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 3.20. The stock’s fifty day simple moving average is $12.36 and its 200-day simple moving average is $13.21.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. Driven Brands had a positive return on equity of 15.31% and a negative net margin of 33.56%. The business had revenue of $611.60 million for the quarter, compared to the consensus estimate of $628.34 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. Driven Brands’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts expect that Driven Brands will post 0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

Several large investors have recently made changes to their positions in DRVN. Vanguard Group Inc. lifted its position in shares of Driven Brands by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,390,311 shares of the company’s stock worth $67,864,000 after acquiring an additional 100,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Driven Brands by 56.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,222 shares of the company’s stock valued at $231,000 after buying an additional 5,831 shares during the period. Kestrel Investment Management Corp bought a new stake in Driven Brands in the 4th quarter valued at $3,067,000. Lindbrook Capital LLC increased 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 valued at $41,000 after buying an additional 1,594 shares during the period. Finally, Signaturefd LLC increased its holdings in Driven Brands by 63.8% in the 4th quarter. Signaturefd LLC now owns 11,281 shares of the company’s stock valued at $161,000 after buying an additional 4,394 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.