Driven Brands (NASDAQ:DRVN) Price Target Lowered to $14.00 at Piper Sandler

Driven Brands (NASDAQ:DRVN) had its target price lowered by Piper Sandler from $18.00 to $14.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also commented on the stock. Royal Bank of Canada decreased their target price on shares of Driven Brands from $20.00 to $17.00 and set an outperform rating on the stock in a report on Monday, February 26th. Canaccord Genuity Group lifted their price objective on shares of Driven Brands from $20.00 to $21.00 and gave the company a buy rating in a research note on Monday, March 18th. JPMorgan Chase & Co. cut Driven Brands from an overweight rating to a neutral rating and cut their target price for the stock from $18.00 to $12.50 in a research note on Friday. Finally, Morgan Stanley lowered Driven Brands from an overweight rating to an equal weight rating and decreased their price target for the company from $22.00 to $14.00 in a research note on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $17.94.

Driven Brands Price Performance

Shares of NASDAQ DRVN traded down $0.10 during midday trading on Friday, reaching $11.59. The company’s stock had a trading volume of 2,840,752 shares, compared to its average volume of 1,442,472. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.73 and a current ratio of 1.92. The company has a market cap of $1.90 billion, a P/E ratio of -2.49, a P/E/G ratio of 0.73 and a beta of 1.19. The business’s 50 day moving average price is $14.55 and its two-hundred day moving average price is $13.54. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $29.88.

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

Institutional Investors Weigh In On Driven Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in Driven Brands in the 1st quarter valued at approximately $26,000. PNC Financial Services Group Inc. increased its holdings in Driven Brands by 877.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,679 shares of the company’s stock valued at $34,000 after purchasing an additional 2,405 shares during the period. GAMMA Investing LLC raised its position in Driven Brands by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after purchasing an additional 904 shares during the last quarter. Lindbrook Capital LLC raised its position in Driven Brands by 126.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock worth $41,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Driven Brands by 579.2% during the 4th quarter. Parallel Advisors LLC now owns 3,437 shares of the company’s stock worth $49,000 after buying an additional 2,931 shares during the period. Institutional investors own 77.08% of the company’s stock.

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.