Driven Brands Holdings Inc. (NASDAQ:DRVN) Given Average Rating of “Moderate Buy” by Brokerages

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

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

Institutional Investors Weigh In On Driven Brands

Several hedge funds have recently bought and sold shares of DRVN. Bank of New York Mellon Corp raised its holdings in Driven Brands by 39.2% in the second quarter. Bank of New York Mellon Corp now owns 233,040 shares of the company’s stock worth $2,967,000 after purchasing an additional 65,567 shares during the period. Rhumbline Advisers raised its holdings in shares of Driven Brands by 44.3% during the second quarter. Rhumbline Advisers now owns 83,075 shares of the company’s stock worth $1,058,000 after acquiring an additional 25,486 shares during the period. Quest Partners LLC raised its holdings in shares of Driven Brands by 79.3% during the second quarter. Quest Partners LLC now owns 28,001 shares of the company’s stock worth $356,000 after acquiring an additional 12,386 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Driven Brands during the second quarter worth $352,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Driven Brands during the second quarter worth $816,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Driven Brands Price Performance

DRVN opened at $15.36 on Wednesday. Driven Brands has a one year low of $10.59 and a one year high of $17.45. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The company’s 50 day simple moving average is $16.37 and its 200-day simple moving average is $14.77. The stock has a market capitalization of $2.52 billion, a P/E ratio of 384.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.15.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business had revenue of $591.70 million for the quarter, compared to analysts’ expectations of $598.49 million. During the same period in the prior year, the firm earned $0.19 earnings per share. Driven Brands’s revenue was up 1.8% compared to the same quarter last year. Sell-side analysts anticipate that Driven Brands will post 0.86 earnings per share 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.