Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $19.89 Average PT from Brokerages

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $17.61.

Several research analysts have commented on the stock. Piper Sandler decreased their price objective on shares of Driven Brands from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Morgan Stanley cut shares of Driven Brands from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $14.00 in a report on Tuesday, January 16th. Barclays lowered their price target on shares of Driven Brands from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday. Royal Bank of Canada lowered their target price on shares of Driven Brands from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Finally, Canaccord Genuity Group cut their price target on Driven Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd.

Driven Brands Stock Performance

Driven Brands stock opened at $11.26 on Friday. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $28.51. The firm’s fifty day moving average price is $14.39 and its 200-day moving average price is $13.54. The stock has a market cap of $1.85 billion, a P/E ratio of -2.42, a price-to-earnings-growth ratio of 0.72 and a beta of 1.19. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.73 and a current ratio of 1.92.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The firm had revenue of $553.70 million for the quarter, compared to analyst estimates of $572.92 million. Driven Brands had a positive return on equity of 11.38% and a negative net margin of 33.30%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 EPS. On average, equities research analysts expect that Driven Brands will post 0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

A number of institutional investors have recently bought and sold shares of DRVN. Kestrel Investment Management Corp bought a new stake in Driven Brands during the 4th quarter valued at approximately $3,067,000. TimesSquare Capital Management LLC lifted its holdings in shares of Driven Brands by 15.3% in the third quarter. TimesSquare Capital Management LLC now owns 2,052,348 shares of the company’s stock worth $25,839,000 after buying an additional 272,815 shares in the last quarter. Numerai GP LLC bought a new position in shares of Driven Brands during the third quarter worth $1,819,000. Jump Financial LLC bought a new stake in Driven Brands in the 3rd quarter valued at $2,658,000. Finally, Graham Capital Management L.P. purchased a new stake in Driven Brands in the 3rd quarter worth $2,524,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

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.