Driven Brands Holdings Inc. (NASDAQ:DRVN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to 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.

A number of analysts recently weighed in on DRVN shares. Canaccord Genuity Group decreased their price target on shares of Driven Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. JPMorgan Chase & Co. cut Driven Brands from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $18.00 to $12.50 in a report on Friday, May 3rd. Morgan Stanley downgraded shares of Driven Brands from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $14.00 in a research report on Tuesday, January 16th. Royal Bank of Canada dropped their price target on shares of Driven Brands from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. Finally, The Goldman Sachs Group decreased their price objective on shares of Driven Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DRVN. SG Americas Securities LLC raised its stake in Driven Brands by 576.8% during the third quarter. SG Americas Securities LLC now owns 78,066 shares of the company’s stock worth $983,000 after acquiring an additional 66,532 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Driven Brands during the third quarter worth about $783,000. Bank of New York Mellon Corp grew its position in Driven Brands by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 208,008 shares of the company’s stock worth $2,619,000 after purchasing an additional 5,238 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Driven Brands by 27.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,391 shares of the company’s stock worth $131,000 after purchasing an additional 2,259 shares during the last quarter. Finally, Signaturefd LLC grew its position in Driven Brands by 6,787.0% in the 3rd quarter. Signaturefd LLC now owns 6,887 shares of the company’s stock worth $87,000 after purchasing an additional 6,787 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Stock Down 4.2 %

Shares of NASDAQ DRVN opened at $11.50 on Friday. Driven Brands has a 52-week low of $10.59 and a 52-week high of $28.83. The firm has a fifty day moving average of $14.53 and a 200-day moving average of $13.57. The stock has a market capitalization of $1.89 billion, a PE ratio of -2.47, a P/E/G ratio of 0.72 and a beta of 1.19. The company has a quick ratio of 1.73, a current ratio of 1.92 and a debt-to-equity ratio of 3.21.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 11.38%. The company had revenue of $553.70 million during the quarter, compared to analysts’ expectations of $572.92 million. During the same period in the previous year, the company earned $0.22 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Driven Brands will post 0.88 EPS for the current year.

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.