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

Driven Brands (NASDAQ:DRVN) had its price target lowered by 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 would suggest a potential upside of 84.56% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada lowered their price target on Driven Brands from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, February 26th. JPMorgan Chase & Co. lowered Driven Brands from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $12.50 in a research note on Friday. Morgan Stanley downgraded Driven Brands from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $14.00 in a report on Tuesday, January 16th. The Goldman Sachs Group cut their price target on Driven Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Piper Sandler cut their price target on Driven Brands from $18.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Driven Brands has a consensus rating of “Moderate Buy” and a consensus target price of $17.61.

Driven Brands Trading Up 2.8 %

NASDAQ:DRVN traded up $0.33 during trading hours on Monday, reaching $11.92. 494,008 shares of the company were exchanged, compared to its average volume of 1,208,792. The stock has a 50 day simple moving average of $14.55 and a 200 day simple moving average of $13.56. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -2.55, a PEG ratio of 0.72 and a beta of 1.19. Driven Brands has a 52-week low of $10.59 and a 52-week 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.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $553.70 million during the quarter, compared to analysts’ expectations of $572.92 million. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 11.38%. Driven Brands’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. As a group, analysts predict that Driven Brands will post 0.88 EPS for the current year.

Institutional Trading of Driven Brands

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Driven Brands during the first quarter valued at about $26,000. PNC Financial Services Group Inc. boosted its position in shares of Driven Brands by 877.7% during the 3rd 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 in the last quarter. Lindbrook Capital LLC lifted its holdings in Driven Brands by 126.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock valued at $41,000 after purchasing an additional 1,594 shares in the last quarter. GAMMA Investing LLC increased its position in Driven Brands by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after purchasing an additional 904 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Driven Brands by 579.2% during the fourth quarter. Parallel Advisors LLC now owns 3,437 shares of the company’s stock worth $49,000 after purchasing an additional 2,931 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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.