Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $17.86 Average Target Price from Brokerages

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have received an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $17.86.

A number of brokerages recently commented on DRVN. Royal Bank of Canada raised their target price on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group raised their price objective on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus lifted their price objective on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 14th.

Driven Brands Price Performance

NASDAQ DRVN opened at $16.12 on Friday. The company has a 50-day moving average price of $15.83 and a 200-day moving average price of $14.18. Driven Brands has a 52 week low of $10.59 and a 52 week high of $17.45. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The firm has a market capitalization of $2.65 billion, a P/E ratio of 403.00, a PEG ratio of 1.14 and a beta of 1.15.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Thursday, October 31st. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $591.70 million during the quarter, compared to analysts’ expectations of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. Equities research analysts anticipate that Driven Brands will post 0.86 earnings per share for the current year.

Institutional Trading of Driven Brands

Institutional investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new position in Driven Brands in the 3rd quarter worth approximately $86,000. Innealta Capital LLC bought a new stake in shares of Driven Brands during the second quarter valued at approximately $86,000. Townsquare Capital LLC purchased a new position in shares of Driven Brands in the third quarter worth $153,000. Bleakley Financial Group LLC bought a new position in shares of Driven Brands during the third quarter worth $171,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Driven Brands by 14.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock valued at $219,000 after acquiring an additional 1,758 shares in the last quarter. Hedge funds and other institutional investors 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.