Driven Brands (NASDAQ:DRVN) Earns Neutral Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Driven Brands (NASDAQ:DRVN) in a research note issued to investors on Tuesday morning. The brokerage issued a neutral rating and a $20.00 target price on the stock.

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Driven Brands from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Piper Sandler lifted their target price on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Benchmark initiated coverage on Driven Brands in a research report on Friday, April 4th. They issued a “buy” rating and a $22.00 target price on the stock. Robert W. Baird set a $25.00 target price on Driven Brands in a research report on Thursday, March 13th. Finally, BMO Capital Markets lifted their target price on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.78.

Driven Brands Trading Down 1.4%

NASDAQ DRVN opened at $17.65 on Tuesday. The firm has a market cap of $2.90 billion, a P/E ratio of 441.25, a P/E/G ratio of 0.79 and a beta of 1.10. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The stock’s 50-day moving average is $17.00 and its 200-day moving average is $16.60. Driven Brands has a one year low of $10.88 and a one year high of $18.72.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $516.16 million for the quarter, compared to analyst estimates of $492.19 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. Driven Brands’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. Sell-side analysts anticipate that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DRVN. Rhumbline Advisers boosted its stake in shares of Driven Brands by 5.2% during the 1st quarter. Rhumbline Advisers now owns 86,478 shares of the company’s stock worth $1,482,000 after acquiring an additional 4,243 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Driven Brands by 22.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 139,321 shares of the company’s stock worth $2,388,000 after acquiring an additional 25,806 shares during the period. Seven Six Capital Management LLC boosted its stake in Driven Brands by 34.5% in the 1st quarter. Seven Six Capital Management LLC now owns 202,600 shares of the company’s stock valued at $3,473,000 after purchasing an additional 52,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Driven Brands by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock valued at $610,000 after purchasing an additional 1,493 shares during the period. Finally, Cinctive Capital Management LP boosted its stake in Driven Brands by 36.0% in the 1st quarter. Cinctive Capital Management LP now owns 123,421 shares of the company’s stock valued at $2,115,000 after purchasing an additional 32,677 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.