Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $17.1750.

DRVN has been the subject of several research reports. Weiss Ratings upgraded shares of Driven Brands from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Morgan Stanley cut their target price on shares of Driven Brands from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 20th. Royal Bank Of Canada reduced their price target on shares of Driven Brands from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, June 11th. The Goldman Sachs Group reissued a “neutral” rating and issued a $14.75 price target on shares of Driven Brands in a research note on Wednesday, May 20th. Finally, BMO Capital Markets lowered their price objective on shares of Driven Brands from $18.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, May 21st.

Driven Brands Price Performance

DRVN opened at $14.61 on Thursday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.25 and a current ratio of 1.38. The stock has a market capitalization of $2.41 billion, a PE ratio of 13.04 and a beta of 0.95. The stock’s 50 day moving average price is $14.04 and its 200-day moving average price is $13.72. Driven Brands has a 52-week low of $9.80 and a 52-week high of $19.74.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Thursday, June 11th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $484.44 million during the quarter, compared to analyst estimates of $480.84 million. Driven Brands had a return on equity of 25.70% and a net margin of 9.08%.The firm’s revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. On average, equities research analysts predict that Driven Brands will post 1.08 EPS for the current year.

Institutional Investors Weigh In On Driven Brands

Hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. raised its holdings in Driven Brands by 82.1% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock worth $37,000 after purchasing an additional 941 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Driven Brands by 744.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after buying an additional 1,854 shares in the last quarter. Comerica Bank grew its position in shares of Driven Brands by 328.8% in the 4th quarter. Comerica Bank now owns 2,933 shares of the company’s stock worth $43,000 after buying an additional 2,249 shares during the period. Larson Financial Group LLC increased its stake in shares of Driven Brands by 1,347.7% in the 4th quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock worth $57,000 after acquiring an additional 3,558 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its stake in shares of Driven Brands by 420.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock worth $57,000 after acquiring an additional 3,635 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

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.