Driven Brands (NASDAQ:DRVN) Coverage Initiated by Analysts at Benchmark

Analysts at Benchmark assumed coverage on shares of Driven Brands (NASDAQ:DRVN) in a research report issued on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $22.00 price target on the stock. Benchmark’s price target points to a potential upside of 33.74% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group raised their target price on Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on Driven Brands in a report on Thursday, March 13th. JPMorgan Chase & Co. upped their target price on Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. BMO Capital Markets lifted their price target on shares of Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Finally, Piper Sandler upped their price objective on shares of Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Driven Brands Stock Down 5.0 %

Driven Brands stock opened at $16.45 on Friday. Driven Brands has a 52 week low of $10.59 and a 52 week high of $18.01. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 411.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.13. The business’s 50-day moving average price is $16.54 and its 200 day moving average price is $15.92. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm had revenue of $564.12 million during the quarter, compared to analyst estimates of $572.95 million. During the same period in the previous year, the firm earned $0.19 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Driven Brands will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On Driven Brands

A number of large investors have recently modified their holdings of DRVN. North Peak Capital Management LLC boosted its position in Driven Brands by 8.6% during the fourth quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company’s stock worth $92,905,000 after acquiring an additional 457,217 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Driven Brands by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company’s stock worth $92,134,000 after purchasing an additional 31,431 shares during the last quarter. Bamco Inc. NY grew its position in shares of Driven Brands by 35.7% in the fourth quarter. Bamco Inc. NY now owns 4,750,000 shares of the company’s stock valued at $76,665,000 after purchasing an additional 1,250,000 shares in the last quarter. Emeth Value Capital LLC acquired a new stake in shares of Driven Brands in the fourth quarter valued at approximately $41,452,000. Finally, Geode Capital Management LLC lifted its position in Driven Brands by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,511,230 shares of the company’s stock worth $21,570,000 after buying an additional 19,681 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

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.