Brokerages Set Driven Brands Holdings Inc. (NASDAQ:DRVN) Target Price at $17.86

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $17.86.

Several equities analysts have issued reports on the company. Stifel Nicolaus lifted their target price on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Baird R W raised Driven Brands to a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and issued a $17.00 price target (up previously from $14.00) on shares of Driven Brands in a report on Friday, August 2nd. Royal Bank of Canada lifted their target price on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of Driven Brands in a report on Tuesday, August 20th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DRVN. HG Vora Capital Management LLC increased its position in shares of Driven Brands by 4.9% in the third quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company’s stock valued at $107,738,000 after buying an additional 350,000 shares in the last quarter. North Peak Capital Management LLC increased its position in shares of Driven Brands by 1.8% in the third quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock valued at $75,617,000 after buying an additional 95,529 shares in the last quarter. Bamco Inc. NY increased its position in shares of Driven Brands by 16.7% in the third quarter. Bamco Inc. NY now owns 3,500,000 shares of the company’s stock valued at $49,945,000 after buying an additional 500,000 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Driven Brands by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,511,230 shares of the company’s stock valued at $21,570,000 after buying an additional 19,681 shares in the last quarter. Finally, State Street Corp increased its position in shares of Driven Brands by 2.2% during the third quarter. State Street Corp now owns 1,424,332 shares of the company’s stock worth $20,325,000 after purchasing an additional 30,852 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Driven Brands Price Performance

DRVN opened at $16.69 on Tuesday. The business’s 50-day moving average is $14.98 and its two-hundred day moving average is $13.47. Driven Brands has a 1 year low of $10.59 and a 1 year high of $16.93. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The firm has a market capitalization of $2.74 billion, a PE ratio of 417.25, a price-to-earnings-growth ratio of 1.07 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Thursday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company had revenue of $591.70 million for the quarter, compared to analyst estimates of $598.49 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. Research analysts anticipate that Driven Brands will post 0.86 earnings per share 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.