Brokerages Set Driven Brands Holdings Inc. (NASDAQ:DRVN) PT at $19.89

Driven Brands Holdings Inc. (NASDAQ:DRVN) has received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $17.94.

DRVN has been the subject of several recent research reports. Piper Sandler lowered their target price on shares of Driven Brands from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Friday. JPMorgan Chase & Co. cut Driven Brands from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $12.50 in a research note on Friday. The Goldman Sachs Group dropped their price target on shares of Driven Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday. Morgan Stanley cut shares of Driven Brands from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $14.00 in a report on Tuesday, January 16th. Finally, Royal Bank of Canada cut their price target on shares of Driven Brands from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Monday, February 26th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DRVN. SG Americas Securities LLC raised its position in shares of Driven Brands by 576.8% during the 3rd quarter. SG Americas Securities LLC now owns 78,066 shares of the company’s stock valued at $983,000 after purchasing an additional 66,532 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Driven Brands during the third quarter worth about $783,000. Bank of New York Mellon Corp raised its stake in Driven Brands by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 208,008 shares of the company’s stock valued at $2,619,000 after purchasing an additional 5,238 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Driven Brands by 27.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,391 shares of the company’s stock worth $131,000 after purchasing an additional 2,259 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Driven Brands by 6,787.0% in the 3rd quarter. Signaturefd LLC now owns 6,887 shares of the company’s stock worth $87,000 after purchasing an additional 6,787 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Stock Performance

Driven Brands stock opened at $11.59 on Friday. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $29.88. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -2.49, a PEG ratio of 0.72 and a beta of 1.19. The stock’s 50 day simple moving average is $14.55 and its two-hundred day simple moving average is $13.56. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.73 and a current ratio of 1.92.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Thursday, February 22nd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $553.70 million for the quarter, compared to analysts’ expectations of $572.92 million. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 11.38%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. As a group, analysts expect that Driven Brands will post 0.88 earnings per share for the current fiscal year.

Driven Brands Company Profile

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.