Driven Brands (NASDAQ:DRVN) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Driven Brands (NASDAQ:DRVN) issued its earnings results on Thursday. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.06, FiscalAI reports. The firm had revenue of $484.44 million for the quarter, compared to analysts’ expectations of $454.91 million. Driven Brands had a return on equity of 25.83% and a net margin of 6.55%.

Driven Brands Trading Up 2.5%

DRVN opened at $13.54 on Thursday. Driven Brands has a 12 month low of $9.80 and a 12 month high of $19.74. The stock has a 50-day moving average of $13.08 and a 200 day moving average of $13.93. The firm has a market cap of $2.23 billion, a P/E ratio of 16.31 and a beta of 0.97. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 2.45.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in shares of Driven Brands by 744.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after buying an additional 1,854 shares during the period. Osaic Holdings Inc. boosted its position in shares of Driven Brands by 82.1% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after buying an additional 941 shares during the period. Federated Hermes Inc. boosted its position in shares of Driven Brands by 30.5% during the fourth quarter. Federated Hermes Inc. now owns 8,727 shares of the company’s stock valued at $129,000 after buying an additional 2,040 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Driven Brands by 709.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,490 shares of the company’s stock valued at $149,000 after buying an additional 7,441 shares during the period. Finally, Amundi purchased a new position in shares of Driven Brands during the fourth quarter valued at approximately $169,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DRVN shares. Robert W. Baird set a $18.00 price target on Driven Brands and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Freedom Capital upgraded Driven Brands to a “strong-buy” rating in a research report on Monday, March 23rd. Morgan Stanley dropped their price target on Driven Brands from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 20th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $14.75 price target on shares of Driven Brands in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada dropped their price target on Driven Brands from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Driven Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.28.

About Driven Brands

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.