Analysts Set Driven Brands Holdings Inc. (NASDAQ:DRVN) PT at $19.60

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.60.

DRVN has been the topic of several research reports. Piper Sandler upped their target price on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus upped their target price on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. BMO Capital Markets upped their target price on Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group upped their target price on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DRVN. Blue Trust Inc. increased its holdings 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 acquiring an additional 7,885 shares during the last quarter. Townsquare Capital LLC acquired a new position in shares of Driven Brands during the 3rd quarter valued at about $153,000. LPL Financial LLC bought a new stake in Driven Brands during the 4th quarter valued at approximately $178,000. BNP Paribas Financial Markets bought a new stake in Driven Brands during the 4th quarter valued at approximately $205,000. Finally, SBI Securities Co. Ltd. bought a new stake in Driven Brands during the 4th quarter valued at approximately $215,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Up 0.1 %

NASDAQ:DRVN opened at $16.48 on Thursday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 412.00, a PEG ratio of 0.79 and a beta of 1.13. Driven Brands has a 1-year low of $10.59 and a 1-year high of $18.01. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The business’s fifty day moving average price is $16.07 and its 200 day moving average price is $15.50.

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