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

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

A number of brokerages have recently commented on DRVN. Stifel Nicolaus increased their price objective on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada upped their target price on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group lifted their price target on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 1st.

Driven Brands Trading Down 1.3 %

NASDAQ:DRVN opened at $15.49 on Wednesday. Driven Brands has a 1 year low of $10.59 and a 1 year high of $17.45. The business has a fifty day moving average of $16.31 and a 200-day moving average of $14.65. 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 market cap of $2.54 billion, a price-to-earnings ratio of 387.25, a PEG ratio of 1.14 and a beta of 1.15.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, beating 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 business had revenue of $591.70 million during the quarter, compared to analysts’ expectations of $598.49 million. During the same period last year, the firm posted $0.19 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. Equities analysts predict that Driven Brands will post 0.86 earnings per share for the current year.

Institutional Trading of Driven Brands

Several institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in Driven Brands by 39.2% in the second quarter. Bank of New York Mellon Corp now owns 233,040 shares of the company’s stock valued at $2,967,000 after acquiring an additional 65,567 shares during the period. Rhumbline Advisers increased its position in shares of Driven Brands by 44.3% during the 2nd quarter. Rhumbline Advisers now owns 83,075 shares of the company’s stock worth $1,058,000 after purchasing an additional 25,486 shares in the last quarter. Quest Partners LLC lifted its holdings in Driven Brands by 79.3% during the 2nd quarter. Quest Partners LLC now owns 28,001 shares of the company’s stock valued at $356,000 after purchasing an additional 12,386 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Driven Brands in the second quarter valued at about $352,000. Finally, Edgestream Partners L.P. bought a new stake in Driven Brands during the second quarter worth about $816,000. 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.