Driven Brands (NASDAQ:DRVN) Given "Buy" Rating at BTIG Research

Key Points

• BTIG Research has reaffirmed its "buy" rating for Driven Brands (NASDAQ:DRVN) with a price target of $22.00, indicating a potential upside of 18.47% from the current price.
• Driven Brands recently reported quarterly earnings of $0.36 per share, surpassing estimates and demonstrating a 6.2% year-over-year revenue growth.
• Institutional investors hold a substantial 77.08% of Driven Brands' stock, reflecting strong institutional confidence in the company's performance.

BTIG Research reiterated their buy rating on shares of Driven Brands (NASDAQ:DRVN - Free Report) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $22.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group assumed coverage on Driven Brands in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $20.00 target price for the company. Wall Street Zen cut Driven Brands from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. upgraded Driven Brands from a "neutral" rating to an "overweight" rating and raised their price target for the company from $17.00 to $23.00 in a research report on Wednesday, August 6th. Canaccord Genuity Group lifted their price objective on Driven Brands from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Zacks Research raised Driven Brands to a "hold" rating in a research report on Friday, August 8th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Driven Brands has a consensus rating of "Moderate Buy" and a consensus target price of $21.60.

Driven Brands Price Performance

Driven Brands stock traded up $0.23 during midday trading on Friday, reaching $17.52. The company's stock had a trading volume of 522,445 shares, compared to its average volume of 733,567. Driven Brands has a fifty-two week low of $13.47 and a fifty-two week high of $19.74. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.01 and a current ratio of 1.11. The stock's 50 day simple moving average is $17.60 and its 200 day simple moving average is $17.29. The firm has a market capitalization of $2.88 billion, a PE ratio of -10.27, a P/E/G ratio of 1.07 and a beta of 1.09.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.The company had revenue of $550.99 million during the quarter, compared to the consensus estimate of $540.12 million. During the same quarter last year, the company earned $0.35 earnings per share. Driven Brands's quarterly revenue was up 6.2% compared to the same quarter last year. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. On average, equities research analysts forecast 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 Driven Brands stock in a transaction that occurred 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 sale, the director directly owned 2,279,453 shares in the company, valued at $41,144,126.65. The trade was a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Driven Brands

A number of institutional investors have recently made changes to their positions in the company. North Peak Capital Management LLC increased its holdings in shares of Driven Brands by 9.0% in 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 acquiring an additional 589,556 shares during the last quarter. Norwood Investment Partners LP bought a new position in Driven Brands during the 1st quarter worth $15,892,000. Northern Trust Corp grew its stake in 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 buying an additional 31,430 shares during the last quarter. Hennessy Advisors Inc. bought a new position in Driven Brands during the 2nd quarter worth $10,562,000. Finally, Nuveen LLC acquired a new stake in shares of Driven Brands during the first quarter worth $7,167,000. 77.08% of the stock is currently 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.