Analysts Set Driven Brands Holdings Inc. (NASDAQ:DRVN) Target Price at $17.86

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $17.86.

A number of research firms have recently commented on DRVN. Benchmark reiterated a “buy” rating and issued a $20.00 price objective on shares of Driven Brands in a research note on Tuesday, August 20th. Canaccord Genuity Group lifted their price target on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price objective on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Royal Bank of Canada boosted their target price on shares of Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st.

Driven Brands Stock Performance

Shares of NASDAQ DRVN opened at $16.73 on Friday. The business’s 50-day simple moving average is $15.73 and its 200-day simple moving average is $14.13. 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 52 week low of $10.59 and a 52 week high of $17.45. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 418.25, a P/E/G ratio of 1.14 and a beta of 1.15.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Driven Brands by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,511,230 shares of the company’s stock valued at $21,570,000 after purchasing an additional 19,681 shares in the last quarter. Barclays PLC lifted its position in shares of Driven Brands by 36.0% during the 3rd quarter. Barclays PLC now owns 205,068 shares of the company’s stock worth $2,928,000 after buying an additional 54,277 shares during the period. Orion Portfolio Solutions LLC boosted its stake in Driven Brands by 54.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,398 shares of the company’s stock valued at $234,000 after buying an additional 5,815 shares in the last quarter. State Street Corp grew its position in Driven Brands by 2.2% in the third quarter. State Street Corp now owns 1,424,332 shares of the company’s stock valued at $20,325,000 after acquiring an additional 30,852 shares during the period. Finally, Stifel Financial Corp raised its stake in Driven Brands by 7.5% during the third quarter. Stifel Financial Corp now owns 193,021 shares of the company’s stock worth $2,754,000 after acquiring an additional 13,510 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

About Driven Brands

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.