BTIG Research Initiates Coverage on Driven Brands (NASDAQ:DRVN)

BTIG Research began coverage on shares of Driven Brands (NASDAQ:DRVN - Free Report) in a research note published on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $22.00 target price on the stock.

A number of other equities research analysts have also issued reports on DRVN. Benchmark initiated coverage on shares of Driven Brands in a report on Friday, April 4th. They set a "buy" rating and a $22.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Driven Brands in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $20.00 price target on the stock. Canaccord Genuity Group raised their price objective on Driven Brands from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Wall Street Zen cut Driven Brands from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Robert W. Baird set a $25.00 price target on Driven Brands in a research note on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Driven Brands currently has an average rating of "Moderate Buy" and an average price target of $21.00.

Driven Brands Price Performance

NASDAQ:DRVN traded up $0.16 during trading hours on Monday, hitting $18.06. 330,051 shares of the stock traded hands, compared to its average volume of 690,078. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -9.98, a price-to-earnings-growth ratio of 1.03 and a beta of 1.09. Driven Brands has a 1 year low of $12.34 and a 1 year high of $18.72. The stock has a 50 day moving average price of $17.52 and a 200 day moving average price of $16.70. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 4.07.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. Driven Brands had a positive return on equity of 19.61% and a negative net margin of 12.75%. The business had revenue of $516.16 million during the quarter, compared to analyst estimates of $492.19 million. During the same quarter in the prior year, the business posted $0.23 EPS. Driven Brands's revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts forecast that Driven Brands will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Driven Brands by 3.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,104 shares of the company's stock worth $550,000 after purchasing an additional 1,079 shares during the period. MetLife Investment Management LLC lifted its position in Driven Brands by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 37,161 shares of the company's stock worth $600,000 after buying an additional 2,003 shares during the last quarter. Vident Advisory LLC boosted its stake in Driven Brands by 14.6% during the first quarter. Vident Advisory LLC now owns 19,146 shares of the company's stock worth $328,000 after buying an additional 2,435 shares during the period. SG Americas Securities LLC increased its position in Driven Brands by 25.3% during the first quarter. SG Americas Securities LLC now owns 17,194 shares of the company's stock valued at $295,000 after acquiring an additional 3,474 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Driven Brands by 5.5% during the fourth quarter. Legal & General Group Plc now owns 73,791 shares of the company's stock valued at $1,191,000 after acquiring an additional 3,833 shares during the last quarter. 77.08% of the stock is owned by institutional investors.

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.