Driven Brands Holdings Inc. (NASDAQ:DRVN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $17.1750.

DRVN has been the subject of several recent analyst reports. BMO Capital Markets reduced their price target on Driven Brands from $18.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, May 21st. Royal Bank Of Canada reduced their price target on Driven Brands from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, June 11th. Robert W. Baird set a $18.00 price target on Driven Brands and gave the company an “outperform” rating in a report on Wednesday, May 20th. Weiss Ratings raised Driven Brands from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. Finally, Canaccord Genuity Group set a $18.00 price target on Driven Brands in a report on Monday, June 8th.

Driven Brands Stock Down 0.7%

DRVN opened at $13.36 on Wednesday. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.38 and a quick ratio of 1.25. The business has a 50 day simple moving average of $13.17 and a 200-day simple moving average of $13.91. The stock has a market capitalization of $2.20 billion, a P/E ratio of 11.93 and a beta of 0.97. Driven Brands has a 12 month low of $9.80 and a 12 month high of $19.74.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Thursday, June 11th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The business had revenue of $484.44 million during the quarter, compared to analysts’ expectations of $480.84 million. Driven Brands had a return on equity of 25.70% and a net margin of 9.08%.The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. On average, equities analysts anticipate that Driven Brands will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

Hedge funds and other institutional investors have recently bought and sold shares of the company. Western Standard LLC raised its holdings in Driven Brands by 69.3% during the third quarter. Western Standard LLC now owns 693,413 shares of the company’s stock worth $11,171,000 after purchasing an additional 283,736 shares during the last quarter. Advisory Research Inc. acquired a new position in Driven Brands during the third quarter worth $10,725,000. Elgethun Capital Management acquired a new position in Driven Brands during the third quarter worth $8,137,000. Simcoe Capital Management LLC acquired a new position in Driven Brands during the third quarter worth $33,911,000. Finally, Emeth Value Capital LLC raised its holdings in Driven Brands by 17.8% during the fourth quarter. Emeth Value Capital LLC now owns 3,846,166 shares of the company’s stock worth $57,000,000 after purchasing an additional 582,255 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Company Profile

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.