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

Key Points

• Driven Brands has a consensus “Moderate Buy” rating from 14 analysts, with seven holds, five buys and two strong buys. The average 12-month price target is $17.18, above the reported share price of $14.61.
• The company’s latest quarterly results exceeded expectations, with EPS of $0.30 versus the $0.24 consensus and revenue of $484.44 million versus estimates of $480.84 million. However, revenue declined 6.2% year over year.
• Institutional investors own 77.08% of Driven Brands, while the stock trades between a 52-week range of $9.80 and $19.74; analysts forecast full-year EPS of $1.08.

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fourteen analysts that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $17.1750.

Several equities analysts recently commented on DRVN shares. William Blair cut shares of Driven Brands from an "outperform" rating to a "hold" rating in a research note on Wednesday, April 22nd. Wall Street Zen raised shares of Driven Brands from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Royal Bank Of Canada cut their price target on shares of Driven Brands from $18.00 to $17.00 and set an "outperform" rating for the company in a report on Thursday, June 11th. Canaccord Genuity Group set a $18.00 price target on shares of Driven Brands in a research report on Monday, June 8th. Finally, Robert W. Baird set a $18.00 price target on shares of Driven Brands and gave the stock an "outperform" rating in a report on Wednesday, May 20th.

Hedge Funds Weigh In On Driven Brands

Institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC increased its position in shares of Driven Brands by 0.3% in the second quarter. Lazard Asset Management LLC now owns 216,423 shares of the company's stock valued at $3,800,000 after acquiring an additional 682 shares during the period. ProShare Advisors LLC raised its stake in shares of Driven Brands by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 10,917 shares of the company's stock valued at $162,000 after acquiring an additional 701 shares during the last quarter. Mariner LLC boosted its holdings in shares of Driven Brands by 1.1% during the fourth quarter. Mariner LLC now owns 71,736 shares of the company's stock worth $1,063,000 after purchasing an additional 812 shares during the period. Osaic Holdings Inc. boosted its holdings 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 during the period. Finally, Vident Advisory LLC grew its stake in shares of Driven Brands by 8.0% in the fourth quarter. Vident Advisory LLC now owns 19,620 shares of the company's stock worth $291,000 after purchasing an additional 1,458 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Driven Brands Stock Performance

Shares of DRVN opened at $14.61 on Thursday. Driven Brands has a 52-week low of $9.80 and a 52-week high of $19.74. The stock's 50-day simple moving average is $14.04 and its 200 day simple moving average is $13.72. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.25 and a current ratio of 1.38. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 13.04 and a beta of 0.95.

Driven Brands (NASDAQ:DRVN - Get Free Report) last posted its earnings results on Thursday, June 11th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. Driven Brands had a return on equity of 25.70% and a net margin of 9.08%.The business had revenue of $484.44 million during the quarter, compared to analyst estimates of $480.84 million. During the same quarter in the previous year, the firm earned $0.27 EPS. The company's quarterly revenue was down 6.2% compared to the same quarter last year. Research analysts forecast that Driven Brands will post 1.08 EPS for the current fiscal year.

Driven Brands Company Profile

Driven Brands Holdings Inc NASDAQ: DRVN is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company's platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source