Driven Brands (NASDAQ:DRVN) Given New $22.00 Price Target at Barclays

Driven Brands (NASDAQ:DRVN - Get Free Report) had its price objective decreased by stock analysts at Barclays from $25.00 to $22.00 in a report released on Monday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price target indicates a potential upside of 83.33% from the company's current price.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley cut shares of Driven Brands from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $22.00 to $14.00 in a report on Tuesday, January 16th. Piper Sandler lowered their target price on shares of Driven Brands from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday. The Goldman Sachs Group lowered their target price on shares of Driven Brands from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Friday. Canaccord Genuity Group lowered their target price on shares of Driven Brands from $21.00 to $17.00 and set a "buy" rating for the company in a research note on Friday. Finally, Royal Bank of Canada lowered their target price 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. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Driven Brands has a consensus rating of "Moderate Buy" and a consensus price target of $17.61.

Driven Brands Trading Up 3.5 %

Shares of DRVN traded up $0.41 during midday trading on Monday, hitting $12.00. The stock had a trading volume of 1,925,300 shares, compared to its average volume of 1,226,150. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.92 and a quick ratio of 1.73. Driven Brands has a 1 year low of $10.59 and a 1 year high of $28.83. The stock's 50 day moving average is $14.55 and its 200 day moving average is $13.56. The firm 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.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its quarterly 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 negative net margin of 33.30% and a positive return on equity of 11.38%. The business had revenue of $553.70 million for the quarter, compared to analysts' expectations of $572.92 million. During the same period last year, the business earned $0.22 EPS. The company's revenue was up 2.6% compared to the same quarter last year. As a group, analysts forecast that Driven Brands will post 0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

Institutional investors have recently made changes to their positions in the company. Kestrel Investment Management Corp purchased a new position in shares of Driven Brands during the 4th quarter valued at approximately $3,067,000. TimesSquare Capital Management LLC grew its stake in Driven Brands by 15.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 2,052,348 shares of the company's stock valued at $25,839,000 after acquiring an additional 272,815 shares during the period. Numerai GP LLC acquired a new stake in Driven Brands in the 3rd quarter valued at $1,819,000. Jump Financial LLC acquired a new stake in Driven Brands in the 3rd quarter valued at $2,658,000. Finally, Graham Capital Management L.P. acquired a new stake in Driven Brands in the 3rd quarter valued at $2,524,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

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.