Driven Brands (NASDAQ:DRVN) Earns Buy Rating from Benchmark

Benchmark restated their buy rating on shares of Driven Brands (NASDAQ:DRVN) in a report released on Tuesday, Benzinga reports. They currently have a $20.00 price objective on the stock.

Several other equities analysts have also issued reports on DRVN. Piper Sandler restated an overweight rating and set a $17.00 price target (up from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Baird R W upgraded Driven Brands to a strong-buy rating in a research note on Friday, August 2nd. Robert W. Baird upped their price objective on Driven Brands from $17.00 to $18.00 and gave the company an outperform rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered Driven Brands from an overweight rating to a neutral rating and lowered their price objective for the company from $18.00 to $12.50 in a research note on Friday, May 3rd. Finally, Royal Bank of Canada upped their price objective on Driven Brands from $14.00 to $16.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $17.95.

Driven Brands Price Performance

NASDAQ DRVN opened at $14.03 on Tuesday. Driven Brands has a twelve month low of $10.59 and a twelve month high of $16.00. The company has a debt-to-equity ratio of 3.20, a quick ratio of 1.67 and a current ratio of 1.86. The stock has a market capitalization of $2.30 billion, a PE ratio of -3.01, a P/E/G ratio of 0.85 and a beta of 1.12. The stock has a 50-day simple moving average of $12.91 and a 200 day simple moving average of $13.23.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.07. Driven Brands had a positive return on equity of 15.31% and a negative net margin of 33.56%. The firm had revenue of $611.60 million for the quarter, compared to analyst estimates of $628.34 million. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts anticipate that Driven Brands will post 0.87 EPS for the current year.

Institutional Investors Weigh In On Driven Brands

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in Driven Brands during the 1st quarter worth approximately $26,000. GAMMA Investing LLC grew its position in Driven Brands by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after acquiring an additional 904 shares during the last quarter. Lindbrook Capital LLC grew its position in Driven Brands by 126.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock worth $41,000 after acquiring an additional 1,594 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Driven Brands by 579.2% during the 4th quarter. Parallel Advisors LLC now owns 3,437 shares of the company’s stock worth $49,000 after buying an additional 2,931 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in Driven Brands during the 2nd quarter worth $86,000. 77.08% of the stock is currently owned by institutional investors.

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.