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

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $17.86.

A number of analysts recently commented on DRVN shares. The Goldman Sachs Group upped their price target on shares of Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and set a $17.00 target price (up previously from $14.00) on shares of Driven Brands in a report on Friday, August 2nd. Canaccord Genuity Group raised their price target on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $20.00 price objective on shares of Driven Brands in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada raised their target price on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st.

Institutional Trading of Driven Brands

A number of institutional investors have recently made changes to their positions in DRVN. Geode Capital Management LLC raised its stake in shares of Driven Brands by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,511,230 shares of the company’s stock valued at $21,570,000 after acquiring an additional 19,681 shares during the last quarter. Barclays PLC raised its position in Driven Brands by 36.0% during the 3rd quarter. Barclays PLC now owns 205,068 shares of the company’s stock valued at $2,928,000 after purchasing an additional 54,277 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Driven Brands by 54.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,398 shares of the company’s stock worth $234,000 after buying an additional 5,815 shares during the last quarter. State Street Corp raised its holdings in shares of Driven Brands by 2.2% during the third quarter. State Street Corp now owns 1,424,332 shares of the company’s stock valued at $20,325,000 after acquiring an additional 30,852 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in Driven Brands by 7.5% in the 3rd quarter. Stifel Financial Corp now owns 193,021 shares of the company’s stock worth $2,754,000 after purchasing an additional 13,510 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Down 1.0 %

Shares of NASDAQ:DRVN opened at $16.48 on Tuesday. Driven Brands has a 1 year low of $10.59 and a 1 year high of $16.93. The company has a market capitalization of $2.70 billion, a PE ratio of 412.00, a price-to-earnings-growth ratio of 1.10 and a beta of 1.11. The business has a fifty day moving average price of $14.78 and a two-hundred day moving average price of $13.35. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The company had revenue of $591.70 million during the quarter, compared to analyst estimates of $598.49 million. During the same quarter last year, the business posted $0.19 EPS. Driven Brands’s quarterly revenue was up 1.8% compared to the same quarter last year. Analysts forecast that Driven Brands will post 0.86 earnings per share for the current year.

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.