Stifel Nicolaus Issues Positive Forecast for Driven Brands (NASDAQ:DRVN) Stock Price

Driven Brands (NASDAQ:DRVN) had its price target increased by Stifel Nicolaus from $20.00 to $22.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

DRVN has been the topic of several other reports. The Goldman Sachs Group increased their price objective on shares of Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Canaccord Genuity Group increased their price objective on shares of Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price objective on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets initiated coverage on shares of Driven Brands in a report on Monday, July 22nd. They issued a “market perform” rating and a $14.00 price objective on the stock. Finally, Baird R W upgraded shares of Driven Brands to a “strong-buy” rating in a report on Friday, August 2nd. Four research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.86.

Driven Brands Trading Up 0.5 %

DRVN stock traded up $0.09 during trading on Thursday, hitting $16.66. The company had a trading volume of 385,879 shares, compared to its average volume of 1,076,844. The firm has a 50-day moving average price of $14.68 and a 200-day moving average price of $13.32. Driven Brands has a 12 month low of $10.59 and a 12 month high of $16.93. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 414.25, a PEG ratio of 1.11 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $591.70 million during the quarter, compared to the consensus estimate of $598.49 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, analysts predict that Driven Brands will post 0.86 earnings per share for the current year.

Institutional Investors Weigh In On Driven Brands

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its position in shares of Driven Brands by 396.7% during the second quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock worth $1,573,000 after acquiring an additional 98,662 shares in the last quarter. Bamco Inc. NY increased its position in shares of Driven Brands by 14.3% during the first quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock worth $31,580,000 after acquiring an additional 250,000 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Driven Brands during the second quarter worth $816,000. Sei Investments Co. increased its position in shares of Driven Brands by 12.0% during the first quarter. Sei Investments Co. now owns 78,370 shares of the company’s stock worth $1,237,000 after acquiring an additional 8,372 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Driven Brands by 39.2% during the second quarter. Bank of New York Mellon Corp now owns 233,040 shares of the company’s stock worth $2,967,000 after purchasing an additional 65,567 shares during the last quarter. Institutional investors 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.