Driven Brands Holdings Inc. (NASDAQ:DRVN) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $16.95.

DRVN has been the topic of a number of recent research reports. The Goldman Sachs Group increased their price objective on Driven Brands from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Baird R W raised shares of Driven Brands to a "strong-buy" rating in a research note on Friday, August 2nd. BMO Capital Markets began coverage on shares of Driven Brands in a research report on Monday, July 22nd. They set a "market perform" rating and a $14.00 target price for the company. Royal Bank of Canada upped their price objective on Driven Brands from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Finally, Piper Sandler restated an "overweight" rating and set a $17.00 target price (up previously from $14.00) on shares of Driven Brands in a report on Friday, August 2nd.

Driven Brands Stock Performance

Driven Brands stock traded down $0.10 during trading hours on Monday, hitting $14.21. The stock had a trading volume of 279,705 shares, compared to its average volume of 1,147,905. The company has a quick ratio of 1.91, a current ratio of 2.11 and a debt-to-equity ratio of 3.03. The company has a 50-day moving average of $13.85 and a two-hundred day moving average of $13.32. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $16.00. The company has a market cap of $2.33 billion, a PE ratio of -3.07, a price-to-earnings-growth ratio of 0.89 and a beta of 1.13.

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

Institutional Investors Weigh In On Driven Brands

A number of hedge funds have recently made changes to their positions in the stock. Bamco Inc. NY grew its stake in shares of Driven Brands by 14.3% in the first quarter. Bamco Inc. NY now owns 2,000,000 shares of the company's stock worth $31,580,000 after purchasing an additional 250,000 shares during the last quarter. Norges Bank bought a new position in shares of Driven Brands in the fourth quarter valued at $18,583,000. AQR Capital Management LLC boosted its stake in Driven Brands by 79.9% during the 2nd quarter. AQR Capital Management LLC now owns 929,073 shares of the company's stock valued at $11,483,000 after purchasing an additional 412,547 shares during the last quarter. Hood River Capital Management LLC bought a new stake in Driven Brands during the first quarter worth $13,323,000. Finally, Marshall Wace LLP increased its position in shares of Driven Brands by 516.2% during the second quarter. Marshall Wace LLP now owns 612,436 shares of the company's stock valued at $7,796,000 after acquiring an additional 513,045 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.