Analysts Set Driven Brands Holdings Inc. (NASDAQ:DRVN) PT at $17.86

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $17.86.

DRVN has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price target on shares of Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Canaccord Genuity Group raised their target price on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada boosted their price target on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st.

Institutional Investors Weigh In On Driven Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. Scopia Capital Management LP purchased a new stake in Driven Brands during the third quarter worth $16,890,000. Marshall Wace LLP raised its position in shares of Driven Brands by 516.2% in the second quarter. Marshall Wace LLP now owns 612,436 shares of the company’s stock worth $7,796,000 after acquiring an additional 513,045 shares during the period. Bamco Inc. NY boosted its stake in shares of Driven Brands by 16.7% during the 3rd quarter. Bamco Inc. NY now owns 3,500,000 shares of the company’s stock worth $49,945,000 after acquiring an additional 500,000 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Driven Brands by 79.9% during the 2nd quarter. AQR Capital Management LLC now owns 929,073 shares of the company’s stock worth $11,483,000 after acquiring an additional 412,547 shares in the last quarter. Finally, HG Vora Capital Management LLC grew its position in shares of Driven Brands by 4.9% during the 3rd quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company’s stock valued at $107,738,000 after acquiring an additional 350,000 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Trading Down 1.7 %

Shares of NASDAQ:DRVN opened at $15.23 on Wednesday. The business’s 50-day moving average is $16.36 and its 200 day moving average is $14.73. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. Driven Brands has a 1 year low of $10.59 and a 1 year high of $17.45. The firm has a market capitalization of $2.50 billion, a P/E ratio of 380.75, a P/E/G ratio of 1.11 and a beta of 1.15.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $591.70 million for the quarter, compared to the consensus estimate of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. On average, research analysts predict that Driven Brands will post 0.86 earnings per share for the current fiscal 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.