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

Key Points

• Driven Brands Holdings Inc. has received a consensus rating of "Moderate Buy" from eleven research firms, with an average target price of $21.60.
• Institutional investors own 77.08% of Driven Brands stock, with significant recent investments from Harbour Capital Advisors and Squarepoint Ops.
• A company director recently sold 110,000 shares at an average price of $18.05, reducing their holdings by 4.60%.

Driven Brands Holdings Inc. (NASDAQ:DRVN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eleven research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $21.60.

Several research analysts recently commented on the company. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $24.00 target price on shares of Driven Brands in a research report on Thursday, September 18th. BTIG Research reaffirmed a "buy" rating and issued a $22.00 target price on shares of Driven Brands in a research report on Friday, September 12th. Zacks Research upgraded shares of Driven Brands to a "hold" rating in a research report on Friday, August 8th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Driven Brands in a research report on Saturday, September 27th. Finally, Wall Street Zen lowered shares of Driven Brands from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th.

Insider Buying and Selling at Driven Brands

In other news, Director Jonathan G. Fitzpatrick sold 110,000 shares of Driven Brands stock in a transaction dated Monday, September 15th. The shares were 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 approximately $41,144,126.65. The trade was a 4.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.50% of the company's stock.

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 company. Harbour Capital Advisors LLC acquired a new position in Driven Brands in the third quarter valued at about $846,000. Aaron Wealth Advisors LLC acquired a new position in shares of Driven Brands during the third quarter worth approximately $429,000. Osaic Holdings Inc. lifted its position in shares of Driven Brands by 82.1% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company's stock worth $37,000 after purchasing an additional 941 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of Driven Brands by 74.6% during the second quarter. Orion Porfolio Solutions LLC now owns 25,318 shares of the company's stock worth $445,000 after purchasing an additional 10,814 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Driven Brands by 315.1% during the second quarter. Squarepoint Ops LLC now owns 136,594 shares of the company's stock worth $2,399,000 after purchasing an additional 103,684 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Driven Brands Stock Performance

NASDAQ:DRVN opened at $14.33 on Friday. The firm's 50-day moving average is $17.14 and its 200-day moving average is $17.18. Driven Brands has a 52-week low of $13.47 and a 52-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 company has a market cap of $2.35 billion, a price-to-earnings ratio of -8.43, a PEG ratio of 0.88 and a beta of 1.06.

Driven Brands (NASDAQ:DRVN - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter. Driven Brands had a negative net margin of 12.32% and a positive return on equity of 21.17%. The company had revenue of $564.12 million for the quarter. Equities research analysts anticipate that Driven Brands will post 0.85 earnings per share for the current year.

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.

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