The Goldman Sachs Group Forecasts Strong Price Appreciation for Driven Brands (NASDAQ:DRVN) Stock

Driven Brands (NASDAQ:DRVN) had its price objective hoisted by investment analysts at The Goldman Sachs Group from $16.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 10.62% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Piper Sandler raised their price objective on shares of Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Robert W. Baird set a $25.00 price target on Driven Brands in a research report on Thursday, March 13th. Benchmark started coverage on Driven Brands in a report on Friday, April 4th. They issued a “buy” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, BMO Capital Markets upped their price target on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.78.

Driven Brands Stock Down 0.8 %

NASDAQ DRVN opened at $18.08 on Wednesday. The stock has a market capitalization of $2.97 billion, a P/E ratio of 452.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.10. Driven Brands has a 52 week low of $10.64 and a 52 week high of $18.72. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. The stock has a fifty day moving average of $16.66 and a 200-day moving average of $16.29.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The firm had revenue of $516.16 million during the quarter, compared to analyst estimates of $492.19 million. During the same period last year, the company earned $0.23 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that Driven Brands will post 0.85 EPS for the current year.

Hedge Funds Weigh In On Driven Brands

Several institutional investors have recently modified their holdings of DRVN. Barclays PLC raised its holdings in Driven Brands by 36.0% during the 3rd quarter. Barclays PLC now owns 205,068 shares of the company’s stock worth $2,928,000 after buying an additional 54,277 shares during the period. SG Americas Securities LLC increased its position in shares of Driven Brands by 47.2% during the fourth quarter. SG Americas Securities LLC now owns 13,720 shares of the company’s stock worth $221,000 after acquiring an additional 4,399 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Driven Brands by 600.5% during the fourth quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock worth $148,000 after acquiring an additional 7,885 shares during the period. Emeth Value Capital LLC bought a new stake in Driven Brands in the 4th quarter valued at $41,452,000. Finally, Handelsbanken Fonder AB boosted its stake in Driven Brands by 24.6% in the 4th quarter. Handelsbanken Fonder AB now owns 24,300 shares of the company’s stock worth $392,000 after purchasing an additional 4,800 shares during the period. 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.