Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $17.18 Consensus PT from Analysts

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $17.1750.

DRVN has been the subject of several recent research reports. Piper Sandler upped their price target on Driven Brands from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Freedom Capital upgraded Driven Brands to a “strong-buy” rating in a report on Monday, March 23rd. Royal Bank Of Canada decreased their price target on Driven Brands from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, June 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $14.75 price target on shares of Driven Brands in a report on Wednesday, May 20th. Finally, Morgan Stanley decreased their price target on Driven Brands from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, May 20th.

Driven Brands Stock Up 1.5%

DRVN stock opened at $12.45 on Wednesday. The firm has a market capitalization of $2.05 billion, a PE ratio of 11.12 and a beta of 0.97. The company has a quick ratio of 1.25, a current ratio of 1.38 and a debt-to-equity ratio of 2.08. Driven Brands has a twelve month low of $9.80 and a twelve month high of $19.74. The stock’s 50 day moving average is $13.18 and its 200-day moving average is $13.84.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Thursday, June 11th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.06. Driven Brands had a return on equity of 25.70% and a net margin of 9.08%.The business had revenue of $484.44 million during the quarter, compared to the consensus estimate of $480.84 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. Driven Brands’s revenue was down 6.2% compared to the same quarter last year. Sell-side analysts expect that Driven Brands will post 1.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Driven Brands by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock valued at $610,000 after purchasing an additional 1,493 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Driven Brands by 22.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 139,321 shares of the company’s stock valued at $2,388,000 after purchasing an additional 25,806 shares during the period. New York State Common Retirement Fund grew its stake in Driven Brands by 10.0% in the 2nd quarter. New York State Common Retirement Fund now owns 16,511 shares of the company’s stock valued at $290,000 after purchasing an additional 1,500 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Driven Brands by 95.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 255,156 shares of the company’s stock valued at $4,481,000 after purchasing an additional 124,556 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Driven Brands by 744.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after purchasing an additional 1,854 shares during the period. Institutional investors own 77.08% of the company’s stock.

Driven Brands Company Profile

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.