Brokerages Set Driven Brands Holdings Inc. (NASDAQ:DRVN) Target Price at $16.95

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $16.95.

A number of research analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $17.00 price target (up previously from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and issued a $20.00 target price on shares of Driven Brands in a research note on Tuesday, August 20th. BMO Capital Markets initiated coverage on Driven Brands in a research note on Monday, July 22nd. They issued a “market perform” rating and a $14.00 price target on the stock. Royal Bank of Canada upped their price objective on Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group lifted their target price on Driven Brands from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, September 19th.

Driven Brands Trading Up 2.0 %

DRVN opened at $14.79 on Monday. Driven Brands has a twelve month low of $10.59 and a twelve month high of $16.00. The firm has a market cap of $2.43 billion, a PE ratio of -3.17, a price-to-earnings-growth ratio of 0.89 and a beta of 1.13. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.91 and a current ratio of 2.11. The firm’s fifty day moving average is $13.95 and its two-hundred day moving average is $13.33.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. Driven Brands had a positive return on equity of 15.12% and a negative net margin of 33.56%. The firm had revenue of $611.60 million during the quarter, compared to analysts’ expectations of $628.34 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Equities research analysts anticipate that Driven Brands will post 0.88 EPS for the current year.

Institutional Investors Weigh In On Driven Brands

Several hedge funds have recently bought and sold shares of DRVN. SG Americas Securities LLC lifted its holdings in Driven Brands by 396.7% during the 2nd quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock valued at $1,573,000 after purchasing an additional 98,662 shares during the last quarter. Grizzlyrock Capital LLC bought a new stake in shares of Driven Brands during the 4th quarter worth about $2,311,000. Bamco Inc. NY boosted its holdings in shares of Driven Brands by 14.3% during the 1st quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock worth $31,580,000 after buying an additional 250,000 shares during the period. Edgestream Partners L.P. acquired a new position in Driven Brands in the 2nd quarter valued at about $816,000. Finally, Sei Investments Co. raised its holdings in Driven Brands by 12.0% in the 1st quarter. Sei Investments Co. now owns 78,370 shares of the company’s stock valued at $1,237,000 after acquiring an additional 8,372 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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.