Driven Brands (NASDAQ:DRVN) Given New $16.00 Price Target at BMO Capital Markets

Driven Brands (NASDAQ:DRVN) had its price target upped by equities research analysts at BMO Capital Markets from $15.00 to $16.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 0.25% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Stifel Nicolaus raised their price objective on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Piper Sandler lifted their price target on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday. Canaccord Genuity Group upped their price objective on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada lifted their target price on shares of Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Driven Brands has an average rating of “Moderate Buy” and a consensus target price of $18.95.

Driven Brands Price Performance

Shares of NASDAQ:DRVN traded up $0.32 during midday trading on Wednesday, hitting $15.96. The stock had a trading volume of 45,487 shares, compared to its average volume of 500,151. The company’s 50-day moving average price is $15.99 and its 200-day moving average price is $15.38. The company has a market capitalization of $2.62 billion, a P/E ratio of 399.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $17.45.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.13. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business had revenue of $564.12 million during the quarter, compared to the consensus estimate of $572.95 million. During the same period in the prior year, the company earned $0.19 EPS. Driven Brands’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts predict that Driven Brands will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Driven Brands by 600.5% during the 4th quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock valued at $148,000 after acquiring an additional 7,885 shares during the period. Townsquare Capital LLC purchased a new position in Driven Brands in the third quarter valued at approximately $153,000. LPL Financial LLC bought a new position in Driven Brands during the fourth quarter valued at $178,000. BNP Paribas Financial Markets purchased a new stake in Driven Brands in the fourth quarter worth $205,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Driven Brands during the 4th quarter valued at approximately $215,000. 77.08% of the stock is owned by institutional investors.

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.