Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $17.86 Average Target Price from Analysts

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have earned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Four 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 12-month price objective among analysts that have updated their coverage on the stock in the last year is $17.86.

DRVN has been the subject of a number of research reports. Royal Bank of Canada raised their target price on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Benchmark restated a “buy” rating and issued a $20.00 price objective on shares of Driven Brands in a research report on Tuesday, August 20th. Canaccord Genuity Group upped their target price on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus increased their price target on shares of Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 14th.

Driven Brands Stock Performance

NASDAQ DRVN opened at $16.73 on Friday. Driven Brands has a 1-year low of $10.59 and a 1-year high of $17.45. The company has a 50 day moving average of $15.73 and a 200-day moving average of $14.13. 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 firm has a market cap of $2.75 billion, a price-to-earnings ratio of 418.25, a PEG ratio of 1.14 and a beta of 1.15.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.26 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 business had revenue of $591.70 million for the quarter, compared to analyst estimates of $598.49 million. During the same period in the prior year, the company earned $0.19 EPS. Driven Brands’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities analysts forecast that Driven Brands will post 0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of Driven Brands in the 2nd quarter valued at $86,000. nVerses Capital LLC acquired a new position in Driven Brands in the third quarter valued at about $86,000. Townsquare Capital LLC acquired a new position in Driven Brands in the third quarter valued at about $153,000. Bleakley Financial Group LLC bought a new position in Driven Brands during the third quarter worth about $171,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Driven Brands by 14.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock worth $219,000 after buying an additional 1,758 shares during the period. 77.08% of the stock is owned by institutional investors.

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.