Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $20.78 Average Price Target from Brokerages

Driven Brands Holdings Inc. (NASDAQ:DRVN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $20.78.

DRVN has been the topic of several recent research reports. Benchmark initiated coverage on Driven Brands in a report on Friday, April 4th. They issued a "buy" rating and a $22.00 price target on the stock. Robert W. Baird set a $25.00 target price on Driven Brands in a report on Thursday, March 13th. The Goldman Sachs Group began coverage on Driven Brands in a report on Tuesday, June 3rd. They set a "neutral" rating and a $20.00 price target on the stock. Canaccord Genuity Group raised their target price on Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets lifted their price target on Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th.

Driven Brands Trading Down 0.7%

Shares of DRVN stock traded down $0.13 on Friday, hitting $18.23. The company had a trading volume of 706,037 shares, compared to its average volume of 777,720. The firm has a market cap of $2.99 billion, a P/E ratio of 455.75, a P/E/G ratio of 0.79 and a beta of 1.11. The stock's 50-day moving average is $17.05 and its two-hundred day moving average is $16.64. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. Driven Brands has a twelve month low of $10.88 and a twelve month high of $18.72.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business had revenue of $516.16 million during the quarter, compared to analysts' expectations of $492.19 million. During the same quarter last year, the firm posted $0.23 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Several large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in Driven Brands by 5.2% during the first quarter. Rhumbline Advisers now owns 86,478 shares of the company's stock worth $1,482,000 after purchasing an additional 4,243 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Driven Brands by 22.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 139,321 shares of the company's stock valued at $2,388,000 after purchasing an additional 25,806 shares during the period. Seven Six Capital Management LLC raised its position in shares of Driven Brands by 34.5% in the 1st quarter. Seven Six Capital Management LLC now owns 202,600 shares of the company's stock worth $3,473,000 after acquiring an additional 52,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Driven Brands by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company's stock worth $610,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Cinctive Capital Management LP increased its stake in shares of Driven Brands by 36.0% in the 1st quarter. Cinctive Capital Management LP now owns 123,421 shares of the company's stock worth $2,115,000 after acquiring an additional 32,677 shares in the last quarter. Institutional investors 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.