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

Driven Brands (NASDAQ:DRVN) had its price objective reduced by Piper Sandler from $18.00 to $14.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

DRVN has been the subject of several other reports. JPMorgan Chase & Co. cut shares of Driven Brands from an overweight rating to a neutral rating and decreased their target price for the company from $18.00 to $12.50 in a research note on Friday. Canaccord Genuity Group upped their price objective on shares of Driven Brands from $20.00 to $21.00 and gave the stock a buy rating in a research report on Monday, March 18th. Royal Bank of Canada dropped their target price on Driven Brands from $20.00 to $17.00 and set an outperform rating on the stock in a research report on Monday, February 26th. Finally, Morgan Stanley cut Driven Brands from an overweight rating to an equal weight rating and reduced their price target for the stock from $22.00 to $14.00 in a report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Driven Brands has an average rating of Moderate Buy and a consensus target price of $17.61.

Driven Brands Trading Up 3.5 %

Shares of Driven Brands stock opened at $12.00 on Friday. Driven Brands has a 1 year low of $10.59 and a 1 year high of $28.83. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.92 and a quick ratio of 1.73. The stock has a market cap of $1.97 billion, a PE ratio of -2.59, a price-to-earnings-growth ratio of 0.72 and a beta of 1.19. The firm has a fifty day moving average price of $14.55 and a 200 day moving average price of $13.56.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Thursday, February 22nd. The company reported $0.19 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $572.92 million. During the same period last year, the company earned $0.22 earnings per share. Driven Brands’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts predict that Driven Brands will post 0.88 earnings per share for the current year.

Institutional Trading of Driven Brands

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