Driven Brands (NASDAQ:DRVN) Given New $17.00 Price Target at JPMorgan Chase & Co.

Driven Brands (NASDAQ:DRVN) had its target price hoisted by JPMorgan Chase & Co. from $14.50 to $17.00 in a report issued on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other analysts have also weighed in on DRVN. Stifel Nicolaus raised their price target on shares of Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 14th. BMO Capital Markets lifted their target price on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday. Royal Bank of Canada upped their price target on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Piper Sandler lifted their price objective on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Canaccord Genuity Group upped their target price on shares of Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Driven Brands presently has an average rating of “Moderate Buy” and a consensus price target of $19.60.

Driven Brands Price Performance

Driven Brands stock opened at $16.35 on Wednesday. The business’s fifty day moving average is $16.00 and its two-hundred day moving average is $15.39. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. The firm has a market cap of $2.68 billion, a P/E ratio of 408.75, a P/E/G ratio of 0.79 and a beta of 1.15. Driven Brands has a 52 week low of $10.59 and a 52 week high of $17.45.

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

Institutional Trading of Driven Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. Emeth Value Capital LLC bought a new position in Driven Brands during the 4th quarter worth approximately $41,452,000. Bamco Inc. NY boosted its position in shares of Driven Brands by 35.7% during the fourth quarter. Bamco Inc. NY now owns 4,750,000 shares of the company’s stock worth $76,665,000 after purchasing an additional 1,250,000 shares in the last quarter. Scopia Capital Management LP bought a new position in shares of Driven Brands during the third quarter worth $16,890,000. North Peak Capital Management LLC grew its holdings in shares of Driven Brands by 8.6% in the 4th quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company’s stock valued at $92,905,000 after buying an additional 457,217 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Driven Brands by 54.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company’s stock valued at $19,141,000 after buying an additional 416,744 shares in the last quarter. 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.