Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $19.89 Consensus PT from Analysts

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $17.61.

Several brokerages have recently issued reports on DRVN. Barclays lowered their target price on shares of Driven Brands from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley lowered Driven Brands from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $22.00 to $14.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. downgraded Driven Brands from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $12.50 in a report on Friday, May 3rd. The Goldman Sachs Group decreased their price objective on Driven Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Finally, Canaccord Genuity Group cut their target price on shares of Driven Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, May 3rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. First Eagle Investment Management LLC acquired a new position in shares of Driven Brands during the 1st quarter worth $3,367,000. Sei Investments Co. increased its holdings in Driven Brands by 12.0% in the first quarter. Sei Investments Co. now owns 78,370 shares of the company’s stock valued at $1,237,000 after buying an additional 8,372 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Driven Brands during the 1st quarter worth approximately $393,000. Norden Group LLC acquired a new position in Driven Brands during the first quarter worth $182,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Driven Brands in the first quarter valued at $26,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Price Performance

DRVN stock opened at $11.26 on Friday. Driven Brands has a 1 year low of $10.59 and a 1 year high of $28.51. The firm has a market capitalization of $1.85 billion, a P/E ratio of -2.42, a P/E/G ratio of 0.72 and a beta of 1.19. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.92 and a quick ratio of 1.73. The business’s 50-day moving average is $14.39 and its two-hundred day moving average is $13.54.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $553.70 million for the quarter, compared to analysts’ expectations of $572.92 million. Driven Brands had a positive return on equity of 11.38% and a negative net margin of 33.30%. Driven Brands’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. Analysts anticipate that Driven Brands will post 0.88 earnings per share for the current fiscal year.

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.