Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives Average Rating of “Moderate Buy” from Analysts

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $17.61.

Several brokerages recently weighed in on DRVN. The Goldman Sachs Group cut their price objective on shares of Driven Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Canaccord Genuity Group lowered their target price on shares of Driven Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Barclays lowered their target price on shares of Driven Brands from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. JPMorgan Chase & Co. cut shares of Driven Brands from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $12.50 in a research note on Friday, May 3rd. Finally, Piper Sandler lowered their target price on shares of Driven Brands from $18.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd.

Driven Brands Trading Up 3.7 %

Shares of NASDAQ:DRVN opened at $12.73 on Friday. The company has a market cap of $2.09 billion, a PE ratio of -2.73, a P/E/G ratio of 0.71 and a beta of 1.10. The company’s 50-day moving average price is $11.93 and its 200 day moving average price is $13.32. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $27.65. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 3.20.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $572.23 million for the quarter, compared to the consensus estimate of $584.31 million. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 12.08%. Sell-side analysts anticipate that Driven Brands will post 0.87 earnings per share for the current year.

Hedge Funds Weigh In On Driven Brands

Hedge funds have recently made changes to their positions in the business. Kestrel Investment Management Corp purchased a new position in shares of Driven Brands in the fourth quarter worth approximately $3,067,000. Grizzlyrock Capital LLC purchased a new position in shares of Driven Brands in the fourth quarter worth approximately $2,311,000. TimesSquare Capital Management LLC increased its position in shares of Driven Brands by 15.3% in the third quarter. TimesSquare Capital Management LLC now owns 2,052,348 shares of the company’s stock worth $25,839,000 after acquiring an additional 272,815 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Driven Brands by 77.6% in the fourth quarter. Russell Investments Group Ltd. now owns 232,360 shares of the company’s stock worth $3,313,000 after acquiring an additional 101,535 shares in the last quarter. Finally, Numerai GP LLC purchased a new position in shares of Driven Brands in the third quarter worth approximately $1,819,000. Institutional investors and hedge funds 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.