Driven Brands (NASDAQ:DRVN – Get Free Report)‘s stock had its “buy” rating reiterated by stock analysts at BTIG Research in a note issued to investors on Friday,Benzinga reports. They currently have a $17.00 price objective on the stock. BTIG Research’s target price points to a potential upside of 22.92% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. William Blair downgraded shares of Driven Brands from an “outperform” rating to a “hold” rating in a research note on Wednesday, April 22nd. Morgan Stanley reduced their target price on shares of Driven Brands from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 20th. Royal Bank Of Canada reduced their target price on shares of Driven Brands from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 20th. Zacks Research raised shares of Driven Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Finally, Canaccord Genuity Group set a $18.00 price target on shares of Driven Brands in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.28.
View Our Latest Report on DRVN
Driven Brands Price Performance
Driven Brands (NASDAQ:DRVN – Get Free Report) last issued its earnings results on Thursday, June 11th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. Driven Brands had a net margin of 6.55% and a return on equity of 25.83%. The company had revenue of $484.44 million for the quarter, compared to the consensus estimate of $480.84 million. During the same period in the previous year, the firm earned $0.27 earnings per share. Driven Brands’s quarterly revenue was down 6.2% compared to the same quarter last year. Analysts predict that Driven Brands will post 1.04 earnings per share for the current year.
Institutional Investors Weigh In On Driven Brands
A number of institutional investors and hedge funds have recently made changes to their positions in DRVN. Osaic Holdings Inc. grew its holdings in shares of Driven Brands by 82.1% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after purchasing an additional 941 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Driven Brands by 744.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after purchasing an additional 1,854 shares in the last quarter. Comerica Bank grew its holdings in shares of Driven Brands by 328.8% in the fourth quarter. Comerica Bank now owns 2,933 shares of the company’s stock valued at $43,000 after purchasing an additional 2,249 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Driven Brands by 1,347.7% in the fourth quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock valued at $57,000 after purchasing an additional 3,558 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Driven Brands by 420.2% in the first quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock valued at $57,000 after purchasing an additional 3,635 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.
About Driven Brands
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.
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