Brokerages Set Driven Brands Holdings Inc. (NASDAQ:DRVN) Price Target at $21.60

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have earned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $21.60.

DRVN has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded shares of Driven Brands from a “neutral” rating to an “overweight” rating and upped their price target for the company from $17.00 to $23.00 in a research report on Wednesday, August 6th. BTIG Research reiterated a “buy” rating and set a $22.00 price objective on shares of Driven Brands in a research report on Friday, September 12th. Zacks Research upgraded shares of Driven Brands to a “hold” rating in a research report on Friday, August 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $24.00 price objective on shares of Driven Brands in a research report on Thursday, September 18th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Driven Brands in a research report on Saturday, September 27th.

Insider Buying and Selling at Driven Brands

In other news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $18.05, for a total transaction of $1,985,500.00. Following the completion of the sale, the director directly owned 2,279,453 shares in the company, valued at $41,144,126.65. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC increased its holdings in Driven Brands by 0.3% during the second quarter. Lazard Asset Management LLC now owns 216,423 shares of the company’s stock worth $3,800,000 after buying an additional 682 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Driven Brands by 2.7% during the second quarter. Handelsbanken Fonder AB now owns 30,900 shares of the company’s stock worth $543,000 after buying an additional 800 shares during the last quarter. Osaic Holdings Inc. increased its holdings in Driven Brands by 82.1% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock worth $37,000 after buying an additional 941 shares during the last quarter. Creative Planning increased its holdings in Driven Brands by 4.4% during the second quarter. Creative Planning now owns 34,247 shares of the company’s stock worth $601,000 after buying an additional 1,444 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Driven Brands by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock worth $610,000 after buying an additional 1,493 shares during the last quarter. 77.08% of the stock is owned by institutional investors.

Driven Brands Trading Down 0.2%

Shares of NASDAQ DRVN opened at $14.30 on Friday. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.01 and a current ratio of 1.11. Driven Brands has a 52-week low of $13.47 and a 52-week high of $19.74. The firm has a 50 day moving average price of $17.09 and a two-hundred day moving average price of $17.15. The stock has a market cap of $2.35 billion, a P/E ratio of -8.41, a price-to-earnings-growth ratio of 0.86 and a beta of 1.06.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter. Driven Brands had a negative net margin of 12.32% and a positive return on equity of 21.17%. The firm had revenue of $564.12 million during the quarter. As a group, equities analysts forecast that Driven Brands will post 0.85 EPS for the current year.

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.