Driven Brands (NASDAQ:DRVN) Issues Quarterly Earnings Results

Driven Brands (NASDAQ:DRVN) released its earnings results on Tuesday. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.13, Briefing.com reports. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The company had revenue of $564.12 million during the quarter, compared to the consensus estimate of $572.95 million. During the same quarter in the previous year, the firm earned $0.19 EPS. The company’s revenue was up 1.9% on a year-over-year basis.

Driven Brands Trading Up 2.7 %

NASDAQ:DRVN opened at $15.32 on Tuesday. The firm has a market capitalization of $2.51 billion, a P/E ratio of 383.00, a P/E/G ratio of 0.79 and a beta of 1.15. The business has a 50 day simple moving average of $16.02 and a 200 day simple moving average of $15.36. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. Driven Brands has a 12-month low of $10.59 and a 12-month high of $17.45.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DRVN. Stifel Nicolaus boosted their price objective on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Canaccord Genuity Group boosted their price target on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada upped their price target on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Three 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. According to MarketBeat.com, Driven Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

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.