Driven Brands Holdings Inc. (NASDAQ:DRVN) Given Average Rating of “Moderate Buy” by Analysts

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat 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 analysts that have issued ratings on the stock in the last year is $17.61.

Several research analysts have weighed in on the stock. Morgan Stanley downgraded shares of Driven Brands from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $14.00 in a research report on Tuesday, January 16th. JPMorgan Chase & Co. downgraded Driven Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $18.00 to $12.50 in a research note on Friday, May 3rd. The Goldman Sachs Group cut their price objective on Driven Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Royal Bank of Canada decreased their target price on shares of Driven Brands from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. Finally, Barclays dropped 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.

Driven Brands Trading Down 4.2 %

NASDAQ:DRVN opened at $11.50 on Friday. Driven Brands has a one year low of $10.59 and a one year high of $28.83. The company’s 50-day simple moving average is $14.53 and its 200 day simple moving average is $13.57. The firm has a market capitalization of $1.89 billion, a P/E ratio of -2.47, a PEG ratio of 0.72 and a beta of 1.19. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.92 and a quick ratio of 1.73.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Thursday, February 22nd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $553.70 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 earnings per share. As a group, analysts forecast that Driven Brands will post 0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Institutional investors and hedge funds have recently modified their holdings of the company. HG Vora Capital Management LLC purchased a new stake in Driven Brands in the 4th quarter worth approximately $49,910,000. Cooper Creek Partners Management LLC purchased a new position in Driven Brands in the third quarter valued at $22,402,000. Norges Bank acquired a new position in shares of Driven Brands in the fourth quarter worth about $18,583,000. Algert Global LLC purchased a new stake in shares of Driven Brands during the 3rd quarter worth about $8,716,000. Finally, AQR Capital Management LLC grew its position in shares of Driven Brands by 7,230.1% during the 3rd quarter. AQR Capital Management LLC now owns 657,799 shares of the company’s stock valued at $8,282,000 after acquiring an additional 648,825 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.