Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have received a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $16.95.

A number of equities research analysts have commented on DRVN shares. Baird R W upgraded Driven Brands to a “strong-buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their price objective on Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. BMO Capital Markets started coverage on Driven Brands in a research report on Monday, July 22nd. They set a “market perform” rating and a $14.00 price objective for the company. Royal Bank of Canada raised their price objective on Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Benchmark restated a “buy” rating and set a $20.00 price objective on shares of Driven Brands in a research report on Tuesday, August 20th.

Hedge Funds Weigh In On Driven Brands

Several large investors have recently made changes to their positions in the company. Hood River Capital Management LLC bought a new stake in shares of Driven Brands in the first quarter worth about $13,323,000. Marshall Wace LLP grew its position in shares of Driven Brands by 516.2% in the 2nd quarter. Marshall Wace LLP now owns 612,436 shares of the company’s stock valued at $7,796,000 after purchasing an additional 513,045 shares during the period. AQR Capital Management LLC increased its stake in Driven Brands by 79.9% during the 2nd quarter. AQR Capital Management LLC now owns 929,073 shares of the company’s stock worth $11,483,000 after purchasing an additional 412,547 shares in the last quarter. Bamco Inc. NY raised its holdings in Driven Brands by 14.3% during the 1st quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock worth $31,580,000 after buying an additional 250,000 shares during the period. Finally, First Eagle Investment Management LLC bought a new position in Driven Brands in the first quarter valued at approximately $3,367,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Trading Up 1.1 %

Shares of DRVN opened at $14.51 on Friday. The business’s 50-day moving average price is $14.24 and its 200 day moving average price is $13.22. The stock has a market capitalization of $2.38 billion, a P/E ratio of -3.11, a P/E/G ratio of 0.83 and a beta of 1.13. Driven Brands has a 1-year low of $10.59 and a 1-year high of $16.00. The company has a current ratio of 2.11, a quick ratio of 1.91 and a debt-to-equity ratio of 3.03.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. The firm had revenue of $611.60 million for the quarter, compared to analysts’ expectations of $628.34 million. Driven Brands had a positive return on equity of 15.12% and a negative net margin of 33.56%. Driven Brands’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. Analysts expect that Driven Brands will post 0.88 earnings per share for the current year.

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.