Brokerages Set Driven Brands Holdings Inc. (NASDAQ:DRVN) Price Target at $21.60

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $21.60.

DRVN has been the topic of several analyst reports. JPMorgan Chase & Co. upgraded Driven Brands from a “neutral” rating to an “overweight” rating and raised their target price for the company from $17.00 to $23.00 in a research report on Wednesday, August 6th. Zacks Research upgraded Driven Brands to a “hold” rating in a research report on Friday, August 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $24.00 price target on shares of Driven Brands in a research note on Thursday, September 18th. BTIG Research reaffirmed a “buy” rating and set a $22.00 price target on shares of Driven Brands in a research note on Friday, September 12th. Finally, Wall Street Zen lowered Driven Brands from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th.

Driven Brands Stock Up 7.7%

DRVN opened at $16.29 on Friday. Driven Brands has a 12 month low of $13.93 and a 12 month high of $19.74. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.11 and a quick ratio of 1.01. The stock has a market cap of $2.68 billion, a P/E ratio of -9.58, a P/E/G ratio of 0.91 and a beta of 1.06. The stock’s 50 day moving average price is $17.03 and its 200 day moving average price is $17.13.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.The firm had revenue of $564.12 million for the quarter. As a group, research analysts predict that Driven Brands will post 0.85 earnings per share for the current year.

Insider Transactions at Driven Brands

In other Driven Brands news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $18.05, for a total transaction of $1,985,500.00. Following the completion of the transaction, the director directly owned 2,279,453 shares of the company’s stock, valued at approximately $41,144,126.65. This trade represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Driven Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. North Peak Capital Management LLC boosted its stake in Driven Brands by 9.0% during the 2nd quarter. North Peak Capital Management LLC now owns 7,123,075 shares of the company’s stock valued at $125,081,000 after purchasing an additional 589,556 shares in the last quarter. Norwood Investment Partners LP bought a new stake in shares of Driven Brands during the 1st quarter worth $15,892,000. Northern Trust Corp boosted its stake in shares of Driven Brands by 5.4% during the 1st quarter. Northern Trust Corp now owns 609,645 shares of the company’s stock worth $10,449,000 after acquiring an additional 31,430 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Driven Brands during the 2nd quarter worth $10,562,000. Finally, Nuveen LLC bought a new stake in shares of Driven Brands during the 1st quarter worth $7,167,000. 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.