Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $20.78 Average PT from Brokerages

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $20.78.

A number of research firms have issued reports on DRVN. Robert W. Baird set a $25.00 target price on shares of Driven Brands in a research note on Thursday, March 13th. BMO Capital Markets boosted their target price on shares of Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Wall Street Zen raised shares of Driven Brands from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Canaccord Genuity Group upped their price target on shares of Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Piper Sandler upped their price target on shares of Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th.

Driven Brands Trading Down 2.7%

NASDAQ DRVN opened at $16.88 on Friday. Driven Brands has a one year low of $11.17 and a one year high of $18.72. The company has a 50-day simple moving average of $17.18 and a 200-day simple moving average of $16.66. 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 firm has a market capitalization of $2.77 billion, a PE ratio of 422.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 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 $516.16 million during the quarter, compared to analyst estimates of $492.19 million. During the same period in the previous year, the business posted $0.23 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Driven Brands will post 0.85 earnings per share for the current year.

Institutional Trading of Driven Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Driven Brands by 3.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,104 shares of the company’s stock worth $550,000 after purchasing an additional 1,079 shares in the last quarter. MetLife Investment Management LLC grew its position in Driven Brands by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 37,161 shares of the company’s stock valued at $600,000 after purchasing an additional 2,003 shares in the last quarter. Vident Advisory LLC grew its position in Driven Brands by 14.6% during the first quarter. Vident Advisory LLC now owns 19,146 shares of the company’s stock valued at $328,000 after purchasing an additional 2,435 shares in the last quarter. SG Americas Securities LLC grew its position in Driven Brands by 25.3% during the first quarter. SG Americas Securities LLC now owns 17,194 shares of the company’s stock valued at $295,000 after purchasing an additional 3,474 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Driven Brands by 5.5% in the fourth quarter. Legal & General Group Plc now owns 73,791 shares of the company’s stock worth $1,191,000 after acquiring an additional 3,833 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

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.