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

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $16.95.

Several brokerages have commented on DRVN. Baird R W raised shares of Driven Brands to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird increased their price target on Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group boosted their price target on Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Benchmark reissued a “buy” rating and issued a $20.00 price objective on shares of Driven Brands in a report on Tuesday, August 20th. Finally, Piper Sandler reissued an “overweight” rating and issued a $17.00 target price (up from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd.

Driven Brands Trading Down 4.3 %

NASDAQ DRVN opened at $14.10 on Friday. Driven Brands has a one year low of $10.59 and a one year high of $16.00. The company has a debt-to-equity ratio of 3.03, a current ratio of 2.11 and a quick ratio of 1.91. The firm has a market cap of $2.31 billion, a P/E ratio of -3.00, a P/E/G ratio of 0.83 and a beta of 1.13. The stock’s 50-day moving average is $14.29 and its 200-day moving average is $13.19.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. The business 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 15.12%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. Sell-side analysts anticipate that Driven Brands will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Driven Brands during the first quarter valued at about $26,000. Norden Group LLC acquired a new position in shares of Driven Brands during the first quarter worth $182,000. SG Americas Securities LLC acquired a new stake in Driven Brands in the first quarter valued at $393,000. Sei Investments Co. lifted its holdings in Driven Brands by 12.0% during the 1st quarter. Sei Investments Co. now owns 78,370 shares of the company’s stock worth $1,237,000 after buying an additional 8,372 shares during the period. Finally, First Eagle Investment Management LLC bought a new stake in shares of Driven Brands in the 1st quarter valued at about $3,367,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.