Driven Brands (DRVN) Expected to Announce Earnings on Thursday

Driven Brands (NASDAQ:DRVN) is anticipated to release its results before the market opens on Thursday, July 30th. Analysts expect Driven Brands to post earnings of $0.2638 per share and revenue of $506.3320 million for the quarter.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Thursday, June 11th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.06. Driven Brands had a net margin of 9.08% and a return on equity of 25.70%. The business had revenue of $484.44 million for the quarter, compared to analyst estimates of $480.84 million. During the same period in the prior year, the firm posted $0.27 EPS. The company’s revenue was down 6.2% on a year-over-year basis. On average, analysts expect Driven Brands to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Driven Brands Price Performance

Driven Brands stock opened at $14.97 on Wednesday. Driven Brands has a 1 year low of $9.80 and a 1 year high of $19.74. The firm has a 50 day moving average price of $13.93 and a 200 day moving average price of $13.76. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 13.37 and a beta of 0.96. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.25 and a current ratio of 1.38.

Institutional Investors Weigh In On Driven Brands

Several institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Driven Brands by 744.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after acquiring an additional 1,854 shares in the last quarter. Osaic Holdings Inc. raised its position in Driven Brands by 82.1% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after purchasing an additional 941 shares during the period. Federated Hermes Inc. raised its position in Driven Brands by 30.5% in the fourth quarter. Federated Hermes Inc. now owns 8,727 shares of the company’s stock valued at $129,000 after purchasing an additional 2,040 shares during the period. Tower Research Capital LLC TRC lifted its stake 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 worth $149,000 after purchasing an additional 7,441 shares in the last quarter. Finally, Amundi acquired a new position in shares of Driven Brands during the fourth quarter worth about $169,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DRVN has been the topic of a number of recent analyst reports. Robert W. Baird set a $18.00 price target on shares of Driven Brands and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Weiss Ratings raised shares of Driven Brands from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Canaccord Genuity Group set a $18.00 price objective on Driven Brands in a report on Monday, June 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $14.75 target price on shares of Driven Brands in a report on Wednesday, May 20th. Finally, Piper Sandler boosted their price target on Driven Brands from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.18.

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.