Driven Brands (NASDAQ:DRVN) Receives New Coverage from Analysts at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Driven Brands (NASDAQ:DRVN) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm issued a market perform rating and a $14.00 target price on the stock.

DRVN has been the subject of several other research reports. Barclays cut their target price on Driven Brands from $25.00 to $22.00 and set an overweight rating for the company in a research report on Monday, May 6th. JPMorgan Chase & Co. lowered Driven Brands from an overweight rating to a neutral rating and dropped their price target for the company from $18.00 to $12.50 in a research note on Friday, May 3rd. Piper Sandler dropped their price target on Driven Brands from $18.00 to $14.00 and set an overweight rating for the company in a research note on Friday, May 3rd. Canaccord Genuity Group dropped their price target on Driven Brands from $21.00 to $17.00 and set a buy rating for the company in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group dropped their price target on Driven Brands from $16.00 to $14.00 and set a neutral rating for the company in a research note on Friday, May 3rd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $17.25.

Driven Brands Stock Performance

NASDAQ:DRVN opened at $12.81 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 3.20. Driven Brands has a 12-month low of $10.59 and a 12-month high of $26.30. The stock has a 50-day moving average price of $12.06 and a 200 day moving average price of $13.21. The stock has a market capitalization of $2.10 billion, a P/E ratio of -2.75, a P/E/G ratio of 0.77 and a beta of 1.12.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Thursday, May 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Driven Brands had a positive return on equity of 12.08% and a negative net margin of 33.30%. The firm had revenue of $572.23 million during the quarter, compared to analysts’ expectations of $584.31 million. Equities research analysts forecast that Driven Brands will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Several institutional investors have recently modified their holdings of DRVN. GAMMA Investing LLC raised its holdings in shares of Driven Brands by 49.3% in the first quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after buying an additional 904 shares during the period. Quent Capital LLC raised its holdings in shares of Driven Brands by 17.1% in the fourth quarter. Quent Capital LLC now owns 8,921 shares of the company’s stock worth $127,000 after buying an additional 1,304 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Driven Brands by 126.9% in the fourth quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock worth $41,000 after buying an additional 1,594 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Driven Brands in the first quarter worth approximately $26,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Driven Brands by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock worth $219,000 after buying an additional 1,758 shares during the period. 77.08% of the stock is owned by institutional investors.

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.