Driven Brands (NASDAQ:DRVN) Receives “Buy” Rating from BTIG Research

Driven Brands (NASDAQ:DRVN)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a report issued on Friday,Benzinga reports. They currently have a $17.00 target price on the stock. BTIG Research’s price objective would indicate a potential upside of 22.92% from the stock’s previous close.

Several other analysts have also issued reports on DRVN. BMO Capital Markets dropped their target price on shares of Driven Brands from $18.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, May 21st. Freedom Capital upgraded shares of Driven Brands to a “strong-buy” rating in a research report on Monday, March 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Driven Brands in a research report on Friday, March 27th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $14.75 target price on shares of Driven Brands in a research report on Wednesday, May 20th. Finally, Piper Sandler lifted their target price on shares of Driven Brands from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.28.

Driven Brands Stock Up 2.1%

DRVN stock opened at $13.83 on Friday. The firm has a market cap of $2.28 billion, a PE ratio of 16.66 and a beta of 0.97. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.67 and a current ratio of 0.75. The firm’s fifty day moving average is $13.11 and its 200 day moving average is $13.93. Driven Brands has a one year low of $9.80 and a one year high of $19.74.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Thursday, June 11th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. Driven Brands had a net margin of 6.55% and a return on equity of 25.83%. The company had revenue of $484.44 million for the quarter, compared to analyst estimates of $480.84 million. During the same quarter last year, the business earned $0.27 earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis. On average, research analysts forecast that Driven Brands will post 1.04 EPS for the current year.

Hedge Funds Weigh In On Driven Brands

A number of institutional investors and hedge funds have recently bought and sold shares of DRVN. Boston Partners boosted its position in Driven Brands by 1,301.0% during the fourth quarter. Boston Partners now owns 3,426,388 shares of the company’s stock worth $50,783,000 after acquiring an additional 3,181,812 shares during the last quarter. Rubric Capital Management LP acquired a new position in Driven Brands during the first quarter worth about $37,830,000. AustralianSuper Pty Ltd acquired a new position in Driven Brands during the third quarter worth about $44,645,000. Simcoe Capital Management LLC acquired a new position in Driven Brands during the third quarter worth about $33,911,000. Finally, North Peak Capital Management LLC boosted its position in Driven Brands by 37.3% during the fourth quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company’s stock worth $59,144,000 after acquiring an additional 1,083,896 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

About Driven Brands

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.