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

Key Points

• Driven Brands has an average analyst rating of “Moderate Buy” from 14 research firms, with a consensus 12-month price target of about $17.18.
• The stock recently traded at $15.50, near its 50-day and 200-day moving averages, with a market cap of $2.56 billion and a share range over the past year of $9.80 to $19.74.
• In its latest quarterly results, Driven Brands beat earnings estimates with $0.30 EPS versus $0.24 expected, and revenue of $484.44 million came in slightly above forecasts, though revenue was still down 6.2% year over year.

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Get Free Report) have earned an average rating of "Moderate Buy" from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $17.1750.

A number of research analysts have issued reports on the company. Freedom Capital upgraded Driven Brands to a "strong-buy" rating in a research report on Monday, March 23rd. Benchmark reiterated a "buy" rating on shares of Driven Brands in a research report on Tuesday, May 26th. Piper Sandler raised their price objective on Driven Brands from $11.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 20th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $14.75 price objective on shares of Driven Brands in a research note on Wednesday, May 20th. Finally, BMO Capital Markets reduced their target price on Driven Brands from $18.00 to $14.00 and set a "market perform" rating on the stock in a report on Thursday, May 21st.

Hedge Funds Weigh In On Driven Brands

A number of hedge funds have recently bought and sold shares of DRVN. Osaic Holdings Inc. lifted its holdings in Driven Brands by 82.1% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company's stock valued at $37,000 after buying an additional 941 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Driven Brands by 744.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company's stock worth $37,000 after acquiring an additional 1,854 shares during the period. Comerica Bank raised its position in shares of Driven Brands by 328.8% in the 4th quarter. Comerica Bank now owns 2,933 shares of the company's stock worth $43,000 after acquiring an additional 2,249 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Driven Brands by 1,347.7% in the 4th quarter. Larson Financial Group LLC now owns 3,822 shares of the company's stock valued at $57,000 after purchasing an additional 3,558 shares during the period. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Driven Brands by 420.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company's stock valued at $57,000 after purchasing an additional 3,635 shares during the period. Institutional investors own 77.08% of the company's stock.

Driven Brands Stock Performance

DRVN stock traded up $0.21 during mid-day trading on Friday, hitting $15.50. 816,838 shares of the company were exchanged, compared to its average volume of 966,218. The business has a 50 day simple moving average of $13.59 and a 200-day simple moving average of $13.78. The company has a current ratio of 1.38, a quick ratio of 1.25 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $2.56 billion, a PE ratio of 13.84 and a beta of 0.96. Driven Brands has a 1-year low of $9.80 and a 1-year high of $19.74.

Driven Brands (NASDAQ:DRVN - Get Free Report) last posted its quarterly earnings data on Thursday, June 11th. The company reported $0.30 EPS for the quarter, topping 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 firm had revenue of $484.44 million for the quarter, compared to analyst estimates of $480.84 million. During the same quarter last year, the company earned $0.27 EPS. The company's revenue was down 6.2% on a year-over-year basis. On average, equities analysts forecast that Driven Brands will post 1.08 earnings per share for the current 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.