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

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been given an average rating of “Moderate Buy” by the twelve brokerages that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $17.86.

A number of research firms have commented on DRVN. Stifel Nicolaus raised their price objective on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada upped their target price on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group boosted their price target on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 1st.

Driven Brands Price Performance

Driven Brands stock opened at $16.06 on Friday. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 401.50, a PEG ratio of 1.14 and a beta of 1.15. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. Driven Brands has a 12 month low of $10.59 and a 12 month high of $17.45. The stock’s 50 day moving average is $15.93 and its 200-day moving average is $14.22.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The firm had revenue of $591.70 million for the quarter, compared to analyst estimates of $598.49 million. During the same period in the prior year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts expect that Driven Brands will post 0.86 EPS for the current year.

Hedge Funds Weigh In On Driven Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in DRVN. Wedmont Private Capital increased its stake in shares of Driven Brands by 2.2% in the third quarter. Wedmont Private Capital now owns 38,047 shares of the company’s stock valued at $537,000 after buying an additional 834 shares during the period. HighTower Advisors LLC boosted its holdings in Driven Brands by 5.9% in the third quarter. HighTower Advisors LLC now owns 29,161 shares of the company’s stock valued at $414,000 after acquiring an additional 1,617 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 valued at $219,000 after acquiring an additional 1,758 shares during the last quarter. Creative Planning increased its position in Driven Brands by 9.1% during the 3rd quarter. Creative Planning now owns 33,148 shares of the company’s stock valued at $473,000 after purchasing an additional 2,754 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Driven Brands by 16.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 19,500 shares of the company’s stock worth $278,000 after purchasing an additional 2,800 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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.