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

Driven Brands Holdings Inc. (NASDAQ:DRVN) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $17.86.

Several equities analysts have recently commented on the company. 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 note on Friday, November 1st. Baird R W raised Driven Brands to a “strong-buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price target on Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $17.00 price target (up previously from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Finally, Robert W. Baird increased their target price on Driven Brands from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DRVN. Scopia Capital Management LP purchased a new position in shares of Driven Brands in the 3rd quarter valued at approximately $16,890,000. Hood River Capital Management LLC purchased a new stake in shares of Driven Brands in the first quarter valued at approximately $13,323,000. Marshall Wace LLP boosted its stake in shares of Driven Brands by 516.2% in the second quarter. Marshall Wace LLP now owns 612,436 shares of the company’s stock valued at $7,796,000 after buying an additional 513,045 shares in the last quarter. Bamco Inc. NY boosted its stake in shares of Driven Brands by 16.7% in the third quarter. Bamco Inc. NY now owns 3,500,000 shares of the company’s stock valued at $49,945,000 after buying an additional 500,000 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Driven Brands by 79.9% in the second quarter. AQR Capital Management LLC now owns 929,073 shares of the company’s stock valued at $11,483,000 after buying an additional 412,547 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Driven Brands Stock Up 3.7 %

Shares of DRVN opened at $16.69 on Tuesday. The stock has a 50 day moving average price of $14.98 and a 200 day moving average price of $13.47. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 417.25, a PEG ratio of 1.07 and a beta of 1.11. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. Driven Brands has a one year low of $10.59 and a one year high of $16.93.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $591.70 million for the quarter, compared to analyst estimates of $598.49 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. Equities research analysts forecast that Driven Brands will post 0.86 earnings per share for the current fiscal year.

Driven Brands Company Profile

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.