Driven Brands (NASDAQ:DRVN) PT Lowered to $14.00

Driven Brands (NASDAQ:DRVN) had its target price dropped by investment analysts at Piper Sandler from $18.00 to $14.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 20.79% from the company’s previous close.

DRVN has been the subject of several other reports. Royal Bank of Canada decreased their price objective on Driven Brands from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, February 26th. JPMorgan Chase & Co. downgraded Driven Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $12.50 in a report on Friday. Canaccord Genuity Group increased their price objective on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Morgan Stanley cut Driven Brands from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $22.00 to $14.00 in a research note on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.94.

Driven Brands Stock Performance

Shares of DRVN opened at $11.59 on Friday. The stock has a 50 day moving average price of $14.55 and a 200 day moving average price of $13.54. The company has a quick ratio of 1.73, a current ratio of 1.92 and a debt-to-equity ratio of 3.21. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -2.49, a price-to-earnings-growth ratio of 0.73 and a beta of 1.19. Driven Brands has a 52-week low of $10.59 and a 52-week high of $29.88.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. The business had revenue of $553.70 million during the quarter, compared to the consensus estimate of $572.92 million. Driven Brands had a positive return on equity of 11.38% and a negative net margin of 33.30%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. Research analysts predict that Driven Brands will post 0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DRVN. GAMMA Investing LLC lifted its holdings in 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 acquiring an additional 904 shares during the period. Quent Capital LLC lifted its holdings in Driven Brands by 17.1% in the fourth quarter. Quent Capital LLC now owns 8,921 shares of the company’s stock valued at $127,000 after acquiring an additional 1,304 shares during the period. Swiss National Bank lifted its holdings in Driven Brands by 1.0% in the third quarter. Swiss National Bank now owns 147,300 shares of the company’s stock valued at $1,855,000 after acquiring an additional 1,500 shares during the period. Lindbrook Capital LLC lifted its holdings in 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 acquiring an additional 1,594 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Driven Brands in the first quarter valued at $26,000. Hedge funds and other 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.