Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $16.95 Average Price Target from Analysts

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $16.95.

A number of equities research analysts recently issued reports on DRVN shares. BMO Capital Markets initiated coverage on Driven Brands in a research report on Monday, July 22nd. They set a “market perform” rating and a $14.00 price target on the stock. Piper Sandler restated an “overweight” rating and issued a $17.00 price target (up previously from $14.00) on shares of Driven Brands in a research report on Friday, August 2nd. Royal Bank of Canada upped their price objective on shares of Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Baird R W upgraded shares of Driven Brands to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird boosted their target price on shares of Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd.

Driven Brands Stock Up 2.0 %

DRVN stock opened at $14.79 on Monday. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $16.00. The company has a debt-to-equity ratio of 3.03, a current ratio of 2.11 and a quick ratio of 1.91. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -3.17, a PEG ratio of 0.89 and a beta of 1.13. The business’s fifty day moving average price is $13.95 and its two-hundred day moving average price is $13.33.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. Driven Brands had a negative net margin of 33.56% and a positive return on equity of 15.12%. The business had revenue of $611.60 million for the quarter, compared to analyst estimates of $628.34 million. During the same period last year, the firm earned $0.27 earnings per share. Driven Brands’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts anticipate that Driven Brands will post 0.88 earnings per share for the current year.

Hedge Funds Weigh In On Driven Brands

A number of institutional investors have recently added to or reduced their stakes in DRVN. Norges Bank acquired a new position in shares of Driven Brands in the fourth quarter valued at approximately $18,583,000. Hood River Capital Management LLC bought a new position in shares of Driven Brands during the first quarter valued at $13,323,000. Marshall Wace LLP lifted its holdings in shares of Driven Brands by 516.2% during the second quarter. Marshall Wace LLP now owns 612,436 shares of the company’s stock worth $7,796,000 after purchasing an additional 513,045 shares during the period. AQR Capital Management LLC grew 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 worth $11,483,000 after purchasing an additional 412,547 shares during the last quarter. Finally, Bamco Inc. NY increased its holdings in Driven Brands by 14.3% in the first quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock valued at $31,580,000 after purchasing an additional 250,000 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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.