Brokerages Set Driven Brands Holdings Inc. (NASDAQ:DRVN) PT at $16.95

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $16.95.

A number of analysts recently issued reports on the company. Canaccord Genuity Group raised their price target on Driven Brands from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Robert W. Baird lifted their target price on Driven Brands from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their target price on Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of Driven Brands in a research report on Tuesday, August 20th. Finally, Piper Sandler reiterated an “overweight” rating and set a $17.00 target price (up from $14.00) on shares of Driven Brands in a research report on Friday, August 2nd.

Institutional Trading of Driven Brands

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wedmont Private Capital grew its stake in Driven Brands by 2.2% in the third quarter. Wedmont Private Capital now owns 38,047 shares of the company’s stock valued at $537,000 after purchasing an additional 834 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Driven Brands in the first quarter valued at about $26,000. Price T Rowe Associates Inc. MD grew its stake in Driven Brands by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock valued at $219,000 after purchasing an additional 1,758 shares during the last quarter. Creative Planning grew its stake in Driven Brands by 9.1% in the third quarter. Creative Planning now owns 33,148 shares of the company’s stock valued at $473,000 after purchasing an additional 2,754 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Driven Brands by 16.8% in the third quarter. Handelsbanken Fonder AB now owns 19,500 shares of the company’s stock valued at $278,000 after purchasing an additional 2,800 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Driven Brands Stock Up 0.1 %

Shares of DRVN opened at $14.53 on Friday. The company has a market cap of $2.38 billion, a PE ratio of -3.12, a P/E/G ratio of 0.83 and a beta of 1.13. The business has a fifty day moving average of $14.27 and a 200 day moving average of $13.20. Driven Brands has a 52-week low of $10.59 and a 52-week high of $16.00. The company has a quick ratio of 1.91, a current ratio of 2.11 and a debt-to-equity ratio of 3.03.

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

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.