Stifel Nicolaus Forecasts Strong Price Appreciation for Driven Brands (NASDAQ:DRVN) Stock

Driven Brands (NASDAQ:DRVN) had its price objective upped by investment analysts at Stifel Nicolaus from $20.00 to $22.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 32.21% from the company’s current price.

Several other brokerages have also issued reports on DRVN. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of Driven Brands in a research report on Tuesday, August 20th. The Goldman Sachs Group upped their target price on shares of Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. 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 price target on the stock. Baird R W raised Driven Brands to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Canaccord Genuity Group raised their price target on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four 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 company. According to MarketBeat, Driven Brands has a consensus rating of “Moderate Buy” and a consensus price target of $17.86.

Driven Brands Stock Up 0.4 %

DRVN opened at $16.64 on Thursday. The company has a 50 day moving average of $14.73 and a 200 day moving average of $13.33. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. Driven Brands has a 12 month low of $10.59 and a 12 month high of $16.93. The company has a market cap of $2.73 billion, a PE ratio of 416.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN) last announced 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 business had revenue of $591.70 million for the quarter, compared to analyst estimates of $598.49 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS. On average, sell-side analysts expect that Driven Brands will post 0.86 EPS for the current year.

Institutional Investors Weigh In On Driven Brands

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in Driven Brands in the first quarter valued at $26,000. SG Americas Securities LLC bought a new position in shares of Driven Brands in the 1st quarter worth approximately $393,000. Sei Investments Co. lifted its stake in shares of Driven Brands by 12.0% in the 1st quarter. Sei Investments Co. now owns 78,370 shares of the company’s stock valued at $1,237,000 after purchasing an additional 8,372 shares during the period. First Eagle Investment Management LLC bought a new stake in shares of Driven Brands during the first quarter valued at approximately $3,367,000. Finally, Hood River Capital Management LLC bought a new stake in shares of Driven Brands during the first quarter valued at approximately $13,323,000. 77.08% of the stock is currently 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.