Driven Brands (DRVN) Projected to Release Quarterly Earnings on Thursday

Driven Brands (NASDAQ:DRVN) is anticipated to post its results before the market opens on Thursday, July 30th. Analysts expect Driven Brands to announce earnings of $0.2638 per share and revenue of $506.3320 million for the quarter.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Thursday, June 11th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Driven Brands had a return on equity of 25.70% and a net margin of 9.08%.The business had revenue of $484.44 million during the quarter, compared to the consensus estimate of $480.84 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Driven Brands’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, analysts expect Driven Brands to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Driven Brands Trading Down 3.0%

DRVN opened at $14.13 on Thursday. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 12.62 and a beta of 0.96. The company has a quick ratio of 1.25, a current ratio of 1.38 and a debt-to-equity ratio of 2.08. Driven Brands has a twelve month low of $9.80 and a twelve month high of $19.74. The company has a 50-day simple moving average of $13.86 and a 200 day simple moving average of $13.78.

Institutional Trading of Driven Brands

A number of hedge funds have recently added to or reduced their stakes in the stock. Vident Advisory LLC increased its holdings in shares of Driven Brands by 8.0% during the fourth quarter. Vident Advisory LLC now owns 19,620 shares of the company’s stock worth $291,000 after buying an additional 1,458 shares in the last quarter. Tudor Investment Corp ET AL grew its position in Driven Brands by 212.9% during the 4th quarter. Tudor Investment Corp ET AL now owns 485,000 shares of the company’s stock worth $7,188,000 after acquiring an additional 330,000 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in Driven Brands in the 4th quarter worth about $525,000. One Fin Capital Management LP increased its holdings in Driven Brands by 3.1% in the 4th quarter. One Fin Capital Management LP now owns 1,640,000 shares of the company’s stock worth $24,305,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Driven Brands by 51.3% in the 4th quarter. Millennium Management LLC now owns 1,263,464 shares of the company’s stock worth $18,725,000 after purchasing an additional 428,499 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DRVN. Weiss Ratings raised shares of Driven Brands from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Robert W. Baird set a $18.00 price target on Driven Brands and gave the company an “outperform” rating in a research note on Wednesday, May 20th. BMO Capital Markets decreased their price target on Driven Brands from $18.00 to $14.00 and set a “market perform” rating on the stock in a research note on Thursday, May 21st. Piper Sandler boosted their price target on Driven Brands from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Finally, Canaccord Genuity Group set a $18.00 price objective on Driven Brands in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.18.

About Driven Brands

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.