Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Free Report)’s stock price was up 6.5% during mid-day trading on Thursday after Canaccord Genuity Group raised their price target on the stock from $19.00 to $20.00. Canaccord Genuity Group currently has a buy rating on the stock. Driven Brands traded as high as $15.24 and last traded at $15.21. Approximately 63,532 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 1,162,208 shares. The stock had previously closed at $14.28.
DRVN has been the topic of a number of other reports. Piper Sandler reaffirmed an “overweight” rating and set a $17.00 target price (up from $14.00) on shares of Driven Brands in a research report on Friday, August 2nd. Baird R W upgraded Driven Brands to a “strong-buy” rating in a report on Friday, August 2nd. The Goldman Sachs Group increased their target price on Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price target on shares of Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $20.00 price target on shares of Driven Brands in a report on Tuesday, August 20th. Four 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 company’s stock. Based on data from MarketBeat.com, Driven Brands currently has an average rating of “Moderate Buy” and a consensus price target of $18.23.
Check Out Our Latest Stock Analysis on Driven Brands
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Driven Brands Stock Performance
The company has a quick ratio of 1.91, a current ratio of 2.11 and a debt-to-equity ratio of 3.03. The company has a 50-day moving average price of $13.62 and a 200-day moving average price of $13.31. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -3.20, a P/E/G ratio of 0.82 and a beta of 1.13.
Driven Brands (NASDAQ:DRVN – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.35 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $628.34 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that Driven Brands Holdings Inc. will post 0.88 earnings per share for the current 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.
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