BMO Capital Markets Forecasts Strong Price Appreciation for Driven Brands (NASDAQ:DRVN) Stock

Driven Brands (NASDAQ:DRVN) had its price objective raised by BMO Capital Markets from $15.00 to $16.00 in a research note released on Wednesday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

DRVN has been the topic of a number of other research reports. Piper Sandler increased their price target on shares of Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday. Stifel Nicolaus increased their price objective on shares of Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada boosted their target price on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group increased their price target on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.60.

Driven Brands Price Performance

DRVN opened at $16.35 on Wednesday. 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 stock has a market capitalization of $2.68 billion, a PE ratio of 408.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15. The stock’s 50 day moving average price is $16.00 and its 200-day moving average price is $15.39. Driven Brands has a 52-week low of $10.59 and a 52-week high of $17.45.

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

Institutional Trading of Driven Brands

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