Driven Brands (NASDAQ:DRVN) Price Target Raised to $17.00 at JPMorgan Chase & Co.

Driven Brands (NASDAQ:DRVN) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $14.50 to $17.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 3.75% from the stock’s current price.

DRVN has been the subject of a number of other reports. Royal Bank of Canada lifted their price target on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group raised their price target on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus lifted their price objective on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. BMO Capital Markets upped their price target on Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Piper Sandler raised 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. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.40.

Driven Brands Price Performance

DRVN traded up $0.75 during trading on Wednesday, hitting $16.39. The company’s stock had a trading volume of 366,252 shares, compared to its average volume of 508,528. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 408.63, a P/E/G ratio of 0.79 and a beta of 1.15. Driven Brands has a twelve month low of $10.59 and a twelve month high of $17.45. The business’s fifty day simple moving average is $15.99 and its 200 day simple moving average is $15.38. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $0.19 EPS. Driven Brands’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that Driven Brands will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

A number of institutional investors and hedge funds have recently bought and sold shares of DRVN. Emeth Value Capital LLC purchased a new stake in Driven Brands during the fourth quarter valued at about $41,452,000. Bamco Inc. NY lifted its holdings in shares of Driven Brands by 35.7% in the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company’s stock worth $76,665,000 after acquiring an additional 1,250,000 shares during the last quarter. Scopia Capital Management LP purchased a new stake in shares of Driven Brands during the third quarter valued at approximately $16,890,000. North Peak Capital Management LLC boosted its holdings 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 period. Finally, Dimensional Fund Advisors LP lifted its stake in Driven Brands by 54.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company’s stock worth $19,141,000 after acquiring an additional 416,744 shares during the period. 77.08% of the stock is owned by hedge funds and other 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.