Driven Brands (NASDAQ:DRVN) Now Covered by Analysts at Benchmark

Benchmark started coverage on shares of Driven Brands (NASDAQ:DRVN) in a report released on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $22.00 target price on the stock.

Several other research firms have also issued reports on DRVN. BMO Capital Markets upped their target price on shares of Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group upped their price objective on shares of Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 target price on Driven Brands in a research note on Thursday, March 13th. Finally, Piper Sandler increased their price target on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Driven Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Driven Brands Price Performance

Shares of NASDAQ DRVN opened at $16.10 on Friday. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 402.50, a PEG ratio of 0.79 and a beta of 1.09. 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 fifty-two week low of $10.59 and a fifty-two week high of $18.01. The firm’s 50-day simple moving average is $16.54 and its 200 day simple moving average is $15.93.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company had revenue of $564.12 million for the quarter, compared to analyst estimates of $572.95 million. During the same quarter last year, the company earned $0.19 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, research analysts anticipate that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

Institutional investors and hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Driven Brands by 600.5% during the 4th quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock valued at $148,000 after buying an additional 7,885 shares during the last quarter. Townsquare Capital LLC bought a new stake in Driven Brands in the 3rd quarter valued at about $153,000. LPL Financial LLC purchased a new stake in Driven Brands during the fourth quarter valued at about $178,000. BNP Paribas Financial Markets bought a new position in Driven Brands during the fourth quarter worth about $205,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Driven Brands in the fourth quarter worth about $215,000. 77.08% of the stock is owned by institutional investors.

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.