Brokerages Set Driven Brands Holdings Inc. (NASDAQ:DRVN) PT at $17.86

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

Several equities research analysts have recently issued reports on DRVN shares. Stifel Nicolaus increased their price objective on shares of Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Canaccord Genuity Group increased their target price on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada boosted their price target on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 1st.

Driven Brands Stock Performance

DRVN stock opened at $15.23 on Wednesday. Driven Brands has a twelve month low of $10.59 and a twelve month high of $17.45. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The company has a market cap of $2.50 billion, a P/E ratio of 380.75, a price-to-earnings-growth ratio of 1.14 and a beta of 1.15. The business’s fifty day moving average is $16.36 and its 200-day moving average is $14.69.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of Driven Brands by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,511,230 shares of the company’s stock worth $21,570,000 after purchasing an additional 19,681 shares in the last quarter. Barclays PLC raised its position in Driven Brands by 36.0% during the third quarter. Barclays PLC now owns 205,068 shares of the company’s stock worth $2,928,000 after acquiring an additional 54,277 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in Driven Brands by 54.9% during the third quarter. Orion Portfolio Solutions LLC now owns 16,398 shares of the company’s stock worth $234,000 after acquiring an additional 5,815 shares in the last quarter. State Street Corp lifted its stake 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 last quarter. Finally, Stifel Financial Corp grew its position in shares of Driven Brands by 7.5% in the 3rd quarter. Stifel Financial Corp now owns 193,021 shares of the company’s stock valued at $2,754,000 after acquiring an additional 13,510 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

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.