Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $17.61 Consensus PT from Analysts

Driven Brands Holdings Inc. (NASDAQ:DRVN) has earned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $17.61.

Several brokerages recently commented on DRVN. Canaccord Genuity Group dropped their target price on Driven Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Piper Sandler decreased their price target on shares of Driven Brands from $18.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. JPMorgan Chase & Co. lowered shares of Driven Brands from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $12.50 in a research report on Friday, May 3rd. Barclays decreased their price target on shares of Driven Brands from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Finally, The Goldman Sachs Group decreased their price target on shares of Driven Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd.

Driven Brands Price Performance

Shares of NASDAQ:DRVN opened at $12.15 on Friday. Driven Brands has a 12 month low of $10.59 and a 12 month high of $27.65. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -2.61, a PEG ratio of 0.68 and a beta of 1.10. The stock’s 50 day moving average price is $12.11 and its 200 day moving average price is $13.35. The company has a debt-to-equity ratio of 3.20, a current ratio of 1.86 and a quick ratio of 1.67.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Thursday, May 2nd. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Driven Brands had a positive return on equity of 12.08% and a negative net margin of 33.30%. The firm had revenue of $572.23 million for the quarter, compared to analysts’ expectations of $584.31 million. Equities research analysts anticipate that Driven Brands will post 0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestrel Investment Management Corp purchased a new position in Driven Brands during the 4th quarter worth approximately $3,067,000. Grizzlyrock Capital LLC acquired a new stake in shares of Driven Brands during the 4th quarter valued at $2,311,000. TimesSquare Capital Management LLC boosted its stake in shares of Driven Brands by 15.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 2,052,348 shares of the company’s stock valued at $25,839,000 after buying an additional 272,815 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Driven Brands by 77.6% during the 4th quarter. Russell Investments Group Ltd. now owns 232,360 shares of the company’s stock valued at $3,313,000 after buying an additional 101,535 shares during the period. Finally, Numerai GP LLC acquired a new stake in shares of Driven Brands during the 3rd quarter valued at $1,819,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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.