Benchmark Reiterates “Buy” Rating for Driven Brands (NASDAQ:DRVN)

Benchmark reiterated their buy rating on shares of Driven Brands (NASDAQ:DRVN) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $20.00 target price on the stock.

A number of other equities analysts have also commented on the company. BMO Capital Markets started coverage on Driven Brands in a report on Monday, July 22nd. They issued a market perform rating and a $14.00 price target for the company. The Goldman Sachs Group lifted their target price on Driven Brands from $14.00 to $16.00 and gave the company a neutral rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price target on shares of Driven Brands from $14.00 to $16.00 and gave the stock an outperform rating in a report on Friday, August 2nd. Canaccord Genuity Group reduced their price objective on shares of Driven Brands from $21.00 to $17.00 and set a buy rating for the company in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. cut shares of Driven Brands from an overweight rating to a neutral rating and lowered their target price for the stock from $18.00 to $12.50 in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Driven Brands has a consensus rating of Moderate Buy and a consensus price target of $17.95.

Driven Brands Trading Down 1.2 %

Shares of Driven Brands stock opened at $13.67 on Tuesday. The stock has a market capitalization of $2.24 billion, a P/E ratio of -2.93, a P/E/G ratio of 0.85 and a beta of 1.12. Driven Brands has a 52-week low of $10.59 and a 52-week high of $16.00. The company has a debt-to-equity ratio of 3.20, a quick ratio of 1.67 and a current ratio of 1.86. The stock’s 50-day simple moving average is $12.86 and its 200 day simple moving average is $13.23.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.07. The company had revenue of $611.60 million for the quarter, compared to analyst estimates of $628.34 million. Driven Brands had a negative net margin of 33.56% and a positive return on equity of 15.31%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. As a group, research analysts anticipate that Driven Brands will post 0.87 EPS for the current year.

Institutional Trading of Driven Brands

A number of hedge funds have recently made changes to their positions in DRVN. Allspring Global Investments Holdings LLC purchased a new position in shares of Driven Brands in the 1st quarter worth about $26,000. GAMMA Investing LLC lifted its position in Driven Brands by 49.3% in the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after buying an additional 904 shares during the last quarter. Lindbrook Capital LLC lifted its position in Driven Brands by 126.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock worth $41,000 after buying an additional 1,594 shares during the last quarter. Parallel Advisors LLC boosted its stake in Driven Brands by 579.2% in the fourth quarter. Parallel Advisors LLC now owns 3,437 shares of the company’s stock worth $49,000 after buying an additional 2,931 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in Driven Brands during the second quarter valued at approximately $86,000. 77.08% of the stock is owned by 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.