Driven Brands Holdings Inc. (NASDAQ:DRVN) Given Average Recommendation of “Hold” by Brokerages

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been given a consensus rating of “Hold” by the nine analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $21.2222.

Several brokerages have commented on DRVN. JPMorgan Chase & Co. lowered their target price on shares of Driven Brands from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, November 12th. Zacks Research raised shares of Driven Brands to a “hold” rating in a research report on Friday, August 8th. Weiss Ratings restated a “sell (d)” rating on shares of Driven Brands in a research note on Monday. Canaccord Genuity Group restated a “buy” rating and set a $24.00 price objective on shares of Driven Brands in a research note on Thursday, September 18th. Finally, BTIG Research decreased their target price on shares of Driven Brands from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th.

Insider Transactions at Driven Brands

In other Driven Brands news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $18.05, for a total transaction of $1,985,500.00. Following the completion of the sale, the director owned 2,279,453 shares of the company’s stock, valued at $41,144,126.65. This trade represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Driven Brands

Several hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC lifted its holdings in shares of Driven Brands by 0.3% during the second quarter. Lazard Asset Management LLC now owns 216,423 shares of the company’s stock worth $3,800,000 after buying an additional 682 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Driven Brands by 2.7% during the second quarter. Handelsbanken Fonder AB now owns 30,900 shares of the company’s stock worth $543,000 after purchasing an additional 800 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of Driven Brands by 82.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock worth $37,000 after buying an additional 941 shares during the last quarter. Creative Planning raised its stake in Driven Brands by 4.4% during the second quarter. Creative Planning now owns 34,247 shares of the company’s stock worth $601,000 after acquiring an additional 1,444 shares in the last quarter. Finally, Boothbay Fund Management LLC lifted its holdings in shares of Driven Brands by 2.2% in the third quarter. Boothbay Fund Management LLC now owns 69,315 shares of the company’s stock worth $1,117,000 after acquiring an additional 1,488 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Driven Brands Stock Performance

DRVN stock opened at $14.61 on Friday. Driven Brands has a twelve month low of $13.44 and a twelve month high of $19.74. The business’s fifty day moving average is $15.00 and its 200-day moving average is $16.70. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 2.44. The company has a market cap of $2.40 billion, a P/E ratio of -11.78, a price-to-earnings-growth ratio of 0.84 and a beta of 1.05.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter. The company had revenue of $564.12 million during the quarter. Driven Brands had a positive return on equity of 25.31% and a negative net margin of 9.14%. Equities research analysts forecast that Driven Brands will post 0.85 EPS for the current 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.