Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $19.89 Average PT from Brokerages

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been given a consensus rating of “Moderate Buy” by the ten analysts that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $17.94.

A number of equities research analysts have recently weighed in on DRVN shares. The Goldman Sachs Group dropped their price objective on Driven Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday. Canaccord Genuity Group dropped their target price on Driven Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Friday. Piper Sandler cut their price target on shares of Driven Brands from $18.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley downgraded shares of Driven Brands from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $14.00 in a research note on Tuesday, January 16th. Finally, JPMorgan Chase & Co. cut shares of Driven Brands from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $12.50 in a research report on Friday.

Driven Brands Trading Down 0.9 %

NASDAQ DRVN opened at $11.59 on Friday. Driven Brands has a 12 month low of $10.59 and a 12 month high of $29.88. The stock has a market capitalization of $1.90 billion, a P/E ratio of -2.49, a PEG ratio of 0.72 and a beta of 1.19. The firm’s 50-day moving average is $14.55 and its two-hundred day moving average is $13.56. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.92 and a quick ratio of 1.73.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 11.38%. The firm had revenue of $553.70 million for the quarter, compared to analyst estimates of $572.92 million. During the same period in the prior year, the business posted $0.22 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, sell-side 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 and hedge funds have recently added to or reduced their stakes in the business. Norden Group LLC acquired a new position in Driven Brands during the first quarter worth approximately $182,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Driven Brands during the first quarter worth approximately $26,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Driven Brands by 46.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 93,123 shares of the company’s stock valued at $1,470,000 after acquiring an additional 29,435 shares during the period. Wedmont Private Capital acquired a new stake in Driven Brands during the 1st quarter worth $159,000. Finally, GAMMA Investing LLC grew its position in Driven Brands by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after purchasing an additional 904 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

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.