Driven Brands Holdings Inc. (NASDAQ:DRVN) Given Average Rating of “Moderate Buy” by Analysts

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have been given an average recommendation of “Moderate Buy” by the twelve research firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $17.86.

DRVN has been the subject of several research analyst reports. Stifel Nicolaus lifted their target price on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada lifted their price objective on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group upped their target price on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 1st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. HG Vora Capital Management LLC boosted its position in Driven Brands by 4.9% during the third quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company’s stock valued at $107,738,000 after purchasing an additional 350,000 shares in the last quarter. North Peak Capital Management LLC lifted its position in shares of Driven Brands by 1.8% during the third quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock valued at $75,617,000 after buying an additional 95,529 shares during the last quarter. Bamco Inc. NY boosted its holdings in shares of Driven Brands by 16.7% in the 3rd quarter. Bamco Inc. NY now owns 3,500,000 shares of the company’s stock valued at $49,945,000 after buying an additional 500,000 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Driven Brands by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,511,230 shares of the company’s stock worth $21,570,000 after buying an additional 19,681 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Driven Brands by 2.2% during the 3rd quarter. State Street Corp now owns 1,424,332 shares of the company’s stock worth $20,325,000 after acquiring an additional 30,852 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Driven Brands Stock Performance

NASDAQ:DRVN opened at $15.23 on Wednesday. The firm has a market capitalization of $2.50 billion, a PE ratio of 380.75, a PEG ratio of 1.11 and a beta of 1.15. The stock’s fifty day moving average is $16.36 and its 200 day moving average is $14.73. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $17.45. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business had revenue of $591.70 million for the quarter, compared to the consensus estimate of $598.49 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Driven Brands will post 0.86 earnings per share for the current year.

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.