Driven Brands (NASDAQ:DRVN) Now Covered by Analysts at BTIG Research

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

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

Driven Brands Trading Down 0.2%

NASDAQ DRVN traded down $0.03 during trading hours on Monday, hitting $18.03. 189,165 shares of the company's stock were exchanged, compared to its average volume of 690,863. The business's 50 day moving average is $17.48 and its 200-day moving average is $16.69. Driven Brands has a 12-month low of $12.34 and a 12-month high of $18.72. The firm has a market capitalization of $2.96 billion, a P/E ratio of -9.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.09. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.33 and a current ratio of 1.47.

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

Institutional Trading of Driven Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Driven Brands by 5.7% in the 4th quarter. MetLife Investment Management LLC now owns 37,161 shares of the company's stock worth $600,000 after purchasing an additional 2,003 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Driven Brands by 14.6% in the 1st quarter. Vident Advisory LLC now owns 19,146 shares of the company's stock worth $328,000 after purchasing an additional 2,435 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of 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 period. Finally, Legal & General Group Plc raised its holdings in shares of 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 period. 77.08% of the stock is currently 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.