Driven Brands Holdings Inc. (NASDAQ:DRVN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.1750.

A number of research firms recently weighed in on DRVN. Canaccord Genuity Group set a $18.00 price target on Driven Brands in a report on Monday, June 8th. Robert W. Baird set a $18.00 price objective on Driven Brands and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Freedom Capital raised Driven Brands to a “strong-buy” rating in a research note on Monday, March 23rd. Piper Sandler increased their target price on Driven Brands from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. Finally, BMO Capital Markets dropped their price target on shares of Driven Brands from $18.00 to $14.00 and set a “market perform” rating on the stock in a research note on Thursday, May 21st.

Institutional Trading of Driven Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. increased its stake in Driven Brands by 82.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock worth $37,000 after buying an additional 941 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Driven Brands by 744.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after acquiring an additional 1,854 shares in the last quarter. Comerica Bank boosted its stake in shares of Driven Brands by 328.8% in the fourth quarter. Comerica Bank now owns 2,933 shares of the company’s stock worth $43,000 after acquiring an additional 2,249 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Driven Brands by 1,347.7% in the fourth 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 during the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of Driven Brands by 420.2% during the first quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock worth $57,000 after purchasing an additional 3,635 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Performance

Shares of NASDAQ DRVN opened at $12.68 on Wednesday. The company has a market capitalization of $2.09 billion, a PE ratio of 11.32 and a beta of 0.97. 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 company’s fifty day moving average price is $13.19 and its 200 day moving average price is $13.87. Driven Brands has a 1 year low of $9.80 and a 1 year high of $19.74.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Thursday, June 11th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. Driven Brands had a net margin of 9.08% and a return on equity of 25.70%. The business had revenue of $484.44 million during the quarter, compared to the consensus estimate of $480.84 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The company’s revenue was down 6.2% compared to the same quarter last year. On average, research analysts predict that Driven Brands will post 1.05 earnings per share for the current year.

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.