Driven Brands (DRVN) Projected to Post Earnings on Thursday

Driven Brands (NASDAQ:DRVN) is expected to be announcing its results before the market opens on Thursday, July 30th. Analysts expect the company to post earnings of $0.2638 per share and revenue of $506.3320 million for the quarter.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Thursday, June 11th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Driven Brands had a return on equity of 25.70% and a net margin of 9.08%.The firm had revenue of $484.44 million during the quarter, compared to analysts’ expectations of $480.84 million. During the same period last year, the firm posted $0.27 EPS. The business’s revenue was down 6.2% on a year-over-year basis. On average, analysts expect Driven Brands to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Driven Brands Trading Up 5.6%

Shares of DRVN opened at $14.37 on Tuesday. 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 has a market cap of $2.37 billion, a price-to-earnings ratio of 12.83 and a beta of 0.96. The stock has a fifty day moving average price of $13.90 and a two-hundred day moving average price of $13.76. Driven Brands has a 52-week low of $9.80 and a 52-week high of $19.74.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DRVN shares. BMO Capital Markets lowered their target price on Driven Brands from $18.00 to $14.00 and set a “market perform” rating for the company in a research note on Thursday, May 21st. Piper Sandler upped their price target on shares of Driven Brands from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada decreased their price objective on shares of Driven Brands from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, June 11th. William Blair cut shares of Driven Brands from an “outperform” rating to a “hold” rating in a research report on Wednesday, April 22nd. Finally, Morgan Stanley dropped their target price on shares of Driven Brands from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.18.

Hedge Funds Weigh In On Driven Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of DRVN. Dark Forest Capital Management LP bought a new stake in shares of Driven Brands during the 3rd quarter valued at $369,000. Advisory Services Network LLC bought a new position in shares of Driven Brands in the 2nd quarter worth $361,000. Natixis Advisors LLC boosted its position in shares of Driven Brands by 75.1% in the 4th quarter. Natixis Advisors LLC now owns 22,585 shares of the company’s stock worth $335,000 after purchasing an additional 9,687 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Driven Brands during the third quarter worth $296,000. Finally, Vident Advisory LLC grew its stake in shares of Driven Brands by 8.0% during the fourth quarter. Vident Advisory LLC now owns 19,620 shares of the company’s stock worth $291,000 after purchasing an additional 1,458 shares during the period. 77.08% of the stock is 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.