Brokerages Set Driven Brands Holdings Inc. (NASDAQ:DRVN) Price Target at $16.95

Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Your Free Report ) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $16.95.

A number of research analysts have weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $17.00 target price (up previously from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and issued a $20.00 target price on shares of Driven Brands in a research note on Tuesday, August 20th. BMO Capital Markets initiated coverage on Driven Brands in a research note on Monday, July 22nd. They issued a “market perform” rating and a $14.00 target price on the stock. Royal Bank of Canada boosted their price objective on Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group lifted their price target on Driven Brands from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, September 19th.

Get the latest research report on DRVN

Brand trading up 2.0%

DRVN opened at $14.79 on Monday. Driven Brands has a 12-month low of $10.59 and a 12-month high of $16.00. The firm has a market cap of $2.43 billion, a PE ratio of -3.17, a price-to-earnings-growth ratio of 0.89 and a beta of 1.13. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.91, and a current ratio of 2.11. The company’s fifty day moving average is $13.95 and its two hundred day moving average is $13.33.

Driven Brands (NASDAQ:DRVN – Get Your Free Report ) last posted its earnings results on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. Driven Brands had a positive return on equity of 15.12% and a negative net margin of 33.56%. The firm had revenue of $611.60 million during the quarter, compared to analysts’ expectations of $628.34 million. In the same period last year, the company earned $0.27 per share. The company’s revenue rose 0.8% year-over-year. equities research analysts anticipate that Driven Brands will post 0.88 EPS for the current year.

Institutional investors intervene in certain brands

Several hedge funds have recently bought and sold shares of DRVN. SG Americas Securities LLC boosted its holdings in Driven Brands by 396.7% during the second quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock valued at $1,573,000 after buying an additional 98,662 shares during the last quarter. Grizzlyrock Capital LLC bought a new stake in shares of Driven Brands in the 4th quarter valued at approximately $2,311,000. Bamco Inc. NY boosted its holdings in shares of Driven Brands by 14.3% in the 1st quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock worth $31,580,000 after buying an additional 250,000 shares during the period. Edgestream Partners LP acquired a new position in Driven Brands in the second quarter valued at approximately $816,000. Finally, Sei Investments Co. boosted its holdings in Driven Brands by 12.0% in the first quarter. Sei Investments Co. now owns 78,370 shares of the company’s stock valued at $1,237,000 after acquiring an additional 8,372 shares during the period. 77.08% of the shares are currently owned by institutional investors and hedge funds.

Driven Brands Company Profile

(Get a free report

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada and internationally. They offer various services such as paint, collision, glass, repair, car wash, oil change and maintenance services. The company also distributes auto parts, including radiators, air conditioning components and exhaust products to auto repair shops, auto parts stores, body shops and other outlets; windshields and glass accessories through a network of distribution centers; and consumables such as oil filters and wiper blades, as well as repair and maintenance training services and paint and collision workshops.

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