Brokerages Set Driven Brands Holdings Inc. (NASDAQ:DRVN) Target Price at $17.61

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVNGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $17.61.

Several research firms have recently commented on DRVN. Royal Bank of Canada reduced their price target on Driven Brands from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Piper Sandler decreased their target price on shares of Driven Brands from $18.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. The Goldman Sachs Group lowered 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, May 3rd. Canaccord Genuity Group reduced their price objective on shares of 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, JPMorgan Chase & Co. lowered shares of Driven Brands from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $12.50 in a research report on Friday, May 3rd.

Check Out Our Latest Research Report on Driven Brands

Driven Brands Stock Down 1.9 %

DRVN stock opened at $11.47 on Tuesday. The stock has a market capitalization of $1.88 billion, a PE ratio of -2.46, a price-to-earnings-growth ratio of 0.68 and a beta of 1.19. The company has a fifty day moving average of $13.39 and a 200-day moving average of $13.52. The company has a debt-to-equity ratio of 3.20, a quick ratio of 1.67 and a current ratio of 1.86. Driven Brands has a one year low of $10.59 and a one year high of $27.68.

Driven Brands (NASDAQ:DRVNGet Free Report) last posted its quarterly 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 negative net margin of 33.30% and a positive return on equity of 12.08%. The firm had revenue of $572.23 million during the quarter, compared to analysts’ expectations of $584.31 million. As a group, analysts expect that Driven Brands will post 0.87 EPS for the current year.

Institutional Trading of Driven Brands

Several institutional investors and hedge funds have recently modified their holdings of the business. Kestrel Investment Management Corp acquired a new stake in shares of Driven Brands during the fourth quarter worth $3,067,000. TimesSquare Capital Management LLC increased its stake in shares of Driven Brands by 15.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 2,052,348 shares of the company’s stock valued at $25,839,000 after acquiring an additional 272,815 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Driven Brands by 77.6% during the 4th quarter. Russell Investments Group Ltd. now owns 232,360 shares of the company’s stock worth $3,313,000 after acquiring an additional 101,535 shares during the period. Numerai GP LLC purchased a new stake in Driven Brands in the third quarter valued at approximately $1,819,000. Finally, Jump Financial LLC acquired a new position in Driven Brands during the third quarter worth approximately $2,658,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

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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Analyst Recommendations for Driven Brands (NASDAQ:DRVN)

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