Brokerages Set Driven Brands Holdings Inc. (NASDAQ:DRVN) PT at $19.60

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.60.

Several research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Canaccord Genuity Group increased their target price on shares of Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Piper Sandler raised their price target on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets increased their price target on shares of Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th.

Driven Brands Stock Performance

NASDAQ:DRVN opened at $17.20 on Thursday. The stock’s fifty day moving average is $16.05 and its 200 day moving average is $15.48. The firm has a market capitalization of $2.82 billion, a PE ratio of 430.00, a PEG ratio of 0.79 and a beta of 1.15. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $18.01.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The firm had revenue of $564.12 million during the quarter, compared to analyst estimates of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. Driven Brands’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. On average, sell-side analysts anticipate that Driven Brands will post 0.85 earnings per share for the current year.

Hedge Funds Weigh In On Driven Brands

Hedge funds have recently bought and sold shares of the business. Emeth Value Capital LLC acquired a new position in shares of Driven Brands during the 4th quarter worth about $41,452,000. Bamco Inc. NY grew its stake in shares of Driven Brands by 35.7% in the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company’s stock valued at $76,665,000 after buying an additional 1,250,000 shares during the period. Scopia Capital Management LP acquired a new stake in Driven Brands during the third quarter worth $16,890,000. North Peak Capital Management LLC increased its position in shares of Driven Brands by 8.6% during the 4th quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company’s stock worth $92,905,000 after purchasing an additional 457,217 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Driven Brands by 54.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company’s stock valued at $19,141,000 after acquiring an additional 416,744 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

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.