Driven Brands' (DRVN) Buy Rating Reiterated at Canaccord Genuity Group

Key Points

• Driven Brands' stock is currently rated as a "buy" by Canaccord Genuity Group, with a target price of $24.00, suggesting a potential upside of 41.24% from its current price.
• The company recently reported a quarterly earnings per share (EPS) of $0.36, beating estimates by $0.02, while revenue increased by 6.2% year-over-year to $550.99 million.
• Driven Brands' stock has seen mixed ratings from analysts, with seven giving a "buy" rating and three rating it as "hold," resulting in a consensus rating of "Moderate Buy."

Canaccord Genuity Group reaffirmed their buy rating on shares of Driven Brands (NASDAQ:DRVN - Free Report) in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a $24.00 price objective on the stock.

A number of other research firms also recently issued reports on DRVN. The Goldman Sachs Group began coverage on shares of Driven Brands in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Driven Brands from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $17.00 to $23.00 in a research note on Wednesday, August 6th. Zacks Research upgraded shares of Driven Brands to a "hold" rating in a research note on Friday, August 8th. Wall Street Zen downgraded shares of Driven Brands from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, BTIG Research restated a "buy" rating and issued a $22.00 target price on shares of Driven Brands in a research note on Friday, September 12th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Driven Brands currently has a consensus rating of "Moderate Buy" and an average price target of $21.60.

Driven Brands Trading Down 1.6%

DRVN stock traded down $0.27 during mid-day trading on Thursday, reaching $16.62. The company had a trading volume of 1,614,464 shares, compared to its average volume of 1,141,638. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.11 and a quick ratio of 1.01. The firm has a 50 day moving average of $17.55 and a 200 day moving average of $17.28. Driven Brands has a 12 month low of $13.47 and a 12 month high of $19.74. The company has a market capitalization of $2.73 billion, a PE ratio of -9.78, a price-to-earnings-growth ratio of 1.02 and a beta of 1.09.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. Driven Brands had a negative net margin of 12.32% and a positive return on equity of 21.17%. The firm had revenue of $550.99 million for the quarter, compared to the consensus estimate of $540.12 million. During the same period last year, the firm earned $0.35 earnings per share. The company's quarterly revenue was up 6.2% on a year-over-year basis. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. On average, equities analysts predict that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $18.05, for a total value of $1,985,500.00. Following the sale, the director owned 2,279,453 shares in the company, valued at $41,144,126.65. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Driven Brands

Hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its holdings in Driven Brands by 82.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company's stock worth $37,000 after buying an additional 941 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Driven Brands by 744.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company's stock worth $37,000 after purchasing an additional 1,854 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Driven Brands during the first quarter worth $72,000. Tower Research Capital LLC TRC raised its holdings in shares of Driven Brands by 709.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,490 shares of the company's stock worth $149,000 after purchasing an additional 7,441 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Driven Brands during the first quarter worth $182,000. Institutional investors and hedge funds 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.