Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have received a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $17.86.

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

Hedge Funds Weigh In On Driven Brands

Several institutional investors and hedge funds have recently made changes to their positions in DRVN. Wedmont Private Capital increased its stake in Driven Brands by 2.2% during the 3rd quarter. Wedmont Private Capital now owns 38,047 shares of the company’s stock worth $537,000 after purchasing an additional 834 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Driven Brands by 5.9% during the third quarter. HighTower Advisors LLC now owns 29,161 shares of the company’s stock worth $414,000 after acquiring an additional 1,617 shares during the period. Creative Planning lifted its position in Driven Brands by 9.1% in the 3rd quarter. Creative Planning now owns 33,148 shares of the company’s stock valued at $473,000 after acquiring an additional 2,754 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Driven Brands by 16.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 19,500 shares of the company’s stock worth $278,000 after purchasing an additional 2,800 shares during the period. Finally, Orion Portfolio Solutions LLC increased its holdings in Driven Brands by 54.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,398 shares of the company’s stock worth $234,000 after purchasing an additional 5,815 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Performance

Shares of NASDAQ:DRVN opened at $15.49 on Wednesday. The business has a fifty day moving average of $16.31 and a 200-day moving average of $14.65. The firm has a market cap of $2.54 billion, a PE ratio of 387.25, a price-to-earnings-growth ratio of 1.14 and a beta of 1.15. 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 twelve month low of $10.59 and a twelve month high of $17.45.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The company had revenue of $591.70 million during the quarter, compared to the consensus estimate of $598.49 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts predict that Driven Brands will post 0.86 EPS 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.