Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $20.30 Consensus Price Target from Analysts

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have earned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $20.30.

DRVN has been the subject of a number of research analyst reports. BMO Capital Markets raised their target price on Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Robert W. Baird set a $25.00 target price on Driven Brands in a report on Thursday, March 13th. Canaccord Genuity Group increased their price target on shares of Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Piper Sandler lifted their price objective on shares of Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th.

Driven Brands Price Performance

Shares of DRVN opened at $17.86 on Monday. The company has a 50 day moving average of $16.49 and a two-hundred day moving average of $15.87. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. Driven Brands has a twelve month low of $10.59 and a twelve month high of $18.01. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 446.50, a price-to-earnings-growth ratio of 0.79 and a beta of 1.13.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.13. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company had revenue of $564.12 million for the quarter, compared to analyst estimates of $572.95 million. During the same period in the prior year, the company posted $0.19 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, analysts predict that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DRVN. Emeth Value Capital LLC acquired a new position in Driven Brands during the fourth quarter worth $41,452,000. Bamco Inc. NY lifted its stake in Driven Brands by 35.7% during the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company’s stock worth $76,665,000 after acquiring an additional 1,250,000 shares in the last quarter. Scopia Capital Management LP purchased a new position in Driven Brands during the 3rd quarter valued at about $16,890,000. North Peak Capital Management LLC grew its position in Driven Brands by 8.6% in the 4th quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company’s stock valued at $92,905,000 after acquiring an additional 457,217 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Driven Brands by 54.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company’s stock worth $19,141,000 after purchasing an additional 416,744 shares during the period. 77.08% of the stock is currently owned by hedge funds and other 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.