Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $16.95 Consensus Price Target from Analysts

by · The Cerbat Gem

Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Free Report) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $16.95.

A number of equities analysts recently commented on the company. Piper Sandler restated an “overweight” rating and set a $17.00 target price (up from $14.00) on shares of Driven Brands in a report on Friday, August 2nd. The Goldman Sachs Group raised their target price on Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their target price on Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Canaccord Genuity Group lifted their price target on Driven Brands from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Benchmark reiterated a “buy” rating and issued a $20.00 target price on shares of Driven Brands in a research note on Tuesday, August 20th.

Read Our Latest Stock Report on DRVN

Driven Brands Stock Performance

NASDAQ DRVN opened at $14.51 on Monday. The stock has a market cap of $2.38 billion, a PE ratio of -3.11, a P/E/G ratio of 0.89 and a beta of 1.13. The company has a current ratio of 2.11, a quick ratio of 1.91 and a debt-to-equity ratio of 3.03. Driven Brands has a twelve month low of $10.59 and a twelve month high of $16.00. The stock has a fifty day simple moving average of $13.98 and a 200-day simple moving average of $13.34.

Driven Brands (NASDAQ:DRVN – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share 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 business had revenue of $611.60 million during the quarter, compared to analysts’ expectations of $628.34 million. During the same period in the prior year, the business posted $0.27 EPS. The company’s revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that Driven Brands will post 0.88 earnings per share for the current year.

Institutional Trading of Driven Brands

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake 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 valued at $43,000 after buying an additional 904 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Driven Brands in the 1st quarter valued at about $26,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Driven Brands by 14.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock worth $219,000 after purchasing an additional 1,758 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Driven Brands by 579.2% during the 4th quarter. Parallel Advisors LLC now owns 3,437 shares of the company’s stock worth $49,000 after purchasing an additional 2,931 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Driven Brands by 6.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 99,282 shares of the company’s stock worth $1,264,000 after purchasing an additional 6,159 shares during the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Driven Brands Company Profile

(Get 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. 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.

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