Driven Brands (NASDAQ:DRVN) Price Target Lowered to $22.00 at Barclays

Driven Brands (NASDAQ:DRVN) had its target price reduced by Barclays from $25.00 to $22.00 in a research note issued to investors on Monday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research firms also recently commented on DRVN. Royal Bank of Canada decreased their price target on shares of Driven Brands from $20.00 to $17.00 and set an outperform rating for the company in a research note on Monday, February 26th. Morgan Stanley downgraded shares of Driven Brands from an overweight rating to an equal weight rating and decreased their target price for the stock from $22.00 to $14.00 in a research note on Tuesday, January 16th. Canaccord Genuity Group dropped their price target on Driven Brands from $21.00 to $17.00 and set a buy rating on the stock in a research report on Friday. The Goldman Sachs Group lowered their target price on Driven Brands from $16.00 to $14.00 and set a neutral rating on the stock in a research note on Friday. Finally, Piper Sandler dropped their target price on Driven Brands from $18.00 to $14.00 and set an overweight rating on the stock in a report on Friday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $17.61.

Driven Brands Price Performance

Driven Brands stock opened at $12.00 on Monday. The stock has a market cap of $1.97 billion, a P/E ratio of -2.58, a price-to-earnings-growth ratio of 0.72 and a beta of 1.19. The company has a fifty day simple moving average of $14.55 and a 200-day simple moving average of $13.56. The company has a current ratio of 1.92, a quick ratio of 1.73 and a debt-to-equity ratio of 3.21. Driven Brands has a 12-month low of $10.59 and a 12-month high of $28.83.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Thursday, February 22nd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $553.70 million for the quarter, compared to the consensus estimate of $572.92 million. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 11.38%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS. Equities analysts expect 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 the business. Vanguard Group Inc. grew its stake in shares of Driven Brands by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,390,311 shares of the company’s stock worth $67,864,000 after purchasing an additional 100,300 shares during the period. HG Vora Capital Management LLC acquired a new position in Driven Brands during the fourth quarter worth about $49,910,000. TimesSquare Capital Management LLC increased its holdings in Driven Brands by 15.3% in the third quarter. TimesSquare Capital Management LLC now owns 2,052,348 shares of the company’s stock valued at $25,839,000 after buying an additional 272,815 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new stake in shares of Driven Brands during the 3rd quarter valued at approximately $22,402,000. Finally, Norges Bank purchased a new stake in shares of Driven Brands during the 4th quarter worth approximately $18,583,000. 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.