Driven Brands (NASDAQ:DRVN) Earns Buy Rating from Analysts at Benchmark

Benchmark began coverage on shares of Driven Brands (NASDAQ:DRVN) in a research report released on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $22.00 target price on the stock.

Several other equities analysts also recently weighed in on DRVN. Piper Sandler raised their price objective on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group raised their price target on Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on shares of Driven Brands in a research report on Thursday, March 13th. BMO Capital Markets raised their target price on shares of Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Driven Brands has an average rating of “Moderate Buy” and an average price target of $20.50.

Driven Brands Price Performance

Shares of NASDAQ DRVN opened at $16.10 on Friday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. Driven Brands has a one year low of $10.59 and a one year high of $18.01. The firm has a market capitalization of $2.64 billion, a P/E ratio of 402.50, a PEG ratio of 0.79 and a beta of 1.09. The company’s fifty day moving average is $16.54 and its two-hundred day moving average is $15.96.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm had revenue of $564.12 million for the quarter, compared to the consensus estimate of $572.95 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Analysts forecast that Driven Brands will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Several hedge funds have recently made changes to their positions in DRVN. Mackenzie Financial Corp increased its stake in Driven Brands by 260.7% in the fourth quarter. Mackenzie Financial Corp now owns 44,453 shares of the company’s stock valued at $717,000 after purchasing an additional 32,130 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Driven Brands by 27.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 113,515 shares of the company’s stock valued at $1,832,000 after buying an additional 24,112 shares during the period. State of Wyoming acquired a new position in shares of Driven Brands during the 4th quarter valued at about $351,000. Seven Six Capital Management LLC purchased a new position in shares of Driven Brands during the 4th quarter worth about $2,431,000. Finally, ProShare Advisors LLC boosted its position in shares of Driven Brands by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 16,875 shares of the company’s stock worth $272,000 after acquiring an additional 5,551 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.