Driven Brands Holdings Inc. (NASDAQ:DRVN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been given an average rating of “Moderate Buy” by the eleven research firms that are covering the stock, Marketbeat.com 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 1 year target price among brokerages that have updated their coverage on the stock in the last year is $20.50.

DRVN has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Benchmark initiated coverage on shares of Driven Brands in a research note on Friday, April 4th. They issued a “buy” rating and a $22.00 target price for the company. Robert W. Baird set a $25.00 price target on Driven Brands in a research note on Thursday, March 13th. Piper Sandler lifted their price objective on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group increased their target price on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th.

Institutional Trading of Driven Brands

Institutional investors have recently modified their holdings of the company. North Peak Capital Management LLC lifted its position in Driven Brands by 8.6% during the fourth quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company’s stock valued at $92,905,000 after buying an additional 457,217 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Driven Brands by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company’s stock valued at $92,134,000 after acquiring an additional 31,431 shares during the period. Bamco Inc. NY lifted its holdings in shares of Driven Brands by 35.7% during the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company’s stock valued at $76,665,000 after acquiring an additional 1,250,000 shares in the last quarter. Emeth Value Capital LLC purchased a new stake in Driven Brands during the 4th quarter worth $41,452,000. Finally, Geode Capital Management LLC increased its holdings in Driven Brands by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,511,230 shares of the company’s stock valued at $21,570,000 after purchasing an additional 19,681 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Performance

Shares of DRVN opened at $16.30 on Friday. The company has a 50-day moving average of $16.43 and a two-hundred day moving average of $16.03. The stock has a market cap of $2.67 billion, a P/E ratio of 407.50, a PEG ratio of 0.79 and a beta of 1.09. Driven Brands has a 12-month low of $10.59 and a 12-month high of $18.01. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The firm had revenue of $564.12 million for the quarter, compared to analysts’ expectations of $572.95 million. During the same quarter in the prior year, the firm earned $0.19 EPS. Driven Brands’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts predict that Driven Brands will post 0.85 EPS for the current fiscal 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.