Robert W. Baird Increases Driven Brands (NASDAQ:DRVN) Price Target to $18.00

Driven Brands (NASDAQ:DRVN) had its price objective upped by equities research analysts at Robert W. Baird from $17.00 to $18.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 32.65% from the company’s previous close.

Several other equities analysts also recently weighed in on DRVN. BMO Capital Markets initiated coverage on Driven Brands in a research report on Monday, July 22nd. They set a “market perform” rating and a $14.00 target price on the stock. JPMorgan Chase & Co. lowered Driven Brands from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $12.50 in a research note on Friday, May 3rd. Canaccord Genuity Group dropped their price target on Driven Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Piper Sandler restated an “overweight” rating and set a $17.00 price target (up from $14.00) on shares of Driven Brands in a research note on Friday. Finally, Barclays dropped their price target on Driven Brands from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.75.

Driven Brands Stock Performance

NASDAQ DRVN opened at $13.57 on Friday. The business’s 50-day moving average price is $12.36 and its 200 day moving average price is $13.21. Driven Brands has a twelve month low of $10.59 and a twelve month high of $16.57. The company has a market capitalization of $2.23 billion, a PE ratio of -2.91, a price-to-earnings-growth ratio of 0.85 and a beta of 1.12. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 3.20.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Thursday, August 1st. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $611.60 million for the quarter, compared to the consensus estimate of $628.34 million. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts predict that Driven Brands will post 0.87 earnings per share for the current year.

Institutional Investors Weigh In On Driven Brands

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Driven Brands in the first quarter valued at about $26,000. Lindbrook Capital LLC grew its stake in shares of Driven Brands by 126.9% in the fourth 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 in the last quarter. GAMMA Investing LLC grew its stake in shares of Driven Brands by 49.3% in the first quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock valued at $43,000 after buying an additional 904 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Driven Brands by 579.2% in 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 last quarter. Finally, Innealta Capital LLC purchased a new position in Driven Brands in the second quarter valued at about $86,000. 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.