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

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $19.60.

DRVN has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday. Piper Sandler lifted their price objective on shares of Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets boosted their target price on shares of Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday. Royal Bank of Canada boosted their target price on shares of Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group boosted their target price on shares of Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Driven Brands by 600.5% during the 4th quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock worth $148,000 after buying an additional 7,885 shares during the last quarter. Townsquare Capital LLC acquired a new position in shares of Driven Brands during the 3rd quarter worth $153,000. LPL Financial LLC acquired a new position in shares of Driven Brands during the 4th quarter worth $178,000. BNP Paribas Financial Markets acquired a new position in shares of Driven Brands during the 4th quarter worth $205,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Driven Brands during the 4th quarter worth $215,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Performance

NASDAQ:DRVN opened at $16.35 on Thursday. The firm’s fifty day moving average price is $16.00 and its 200 day moving average price is $15.39. Driven Brands has a 1-year low of $10.59 and a 1-year high of $17.45. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 408.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm had revenue of $564.12 million for the quarter, compared to analyst estimates of $572.95 million. During the same period last year, the firm posted $0.19 EPS. Driven Brands’s quarterly revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that Driven Brands will post 0.85 EPS 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.