Wall Street Zen upgraded shares of Driven Brands (NASDAQ:DRVN – Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.
Several other brokerages have also recently issued reports on DRVN. Robert W. Baird set a $18.00 target price on shares of Driven Brands and gave the company an “outperform” rating in a research report on Wednesday, May 20th. BTIG Research reiterated a “buy” rating and issued a $17.00 price target on shares of Driven Brands in a research report on Friday, June 12th. BMO Capital Markets reduced their price objective on Driven Brands from $18.00 to $14.00 and set a “market perform” rating on the stock in a research note on Thursday, May 21st. Piper Sandler upped their price objective on Driven Brands from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. Finally, Benchmark reiterated a “buy” rating on shares of Driven Brands in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.18.
Check Out Our Latest Analysis on DRVN
Driven Brands Trading Down 0.5%
Driven Brands (NASDAQ:DRVN – Get Free Report) last released its quarterly earnings results on Thursday, June 11th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Driven Brands had a net margin of 9.08% and a return on equity of 25.70%. The company had revenue of $484.44 million for the quarter, compared to the consensus estimate of $480.84 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Driven Brands’s revenue was down 6.2% on a year-over-year basis. Sell-side analysts expect that Driven Brands will post 1.08 earnings per share for the current fiscal year.
Institutional Trading of Driven Brands
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its position in shares of Driven Brands by 82.1% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after buying an additional 941 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Driven Brands by 744.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after buying an additional 1,854 shares during the last quarter. Comerica Bank raised 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 worth $43,000 after buying an additional 2,249 shares during the period. Larson Financial Group LLC raised 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 worth $57,000 after buying an additional 3,558 shares during the period. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Driven Brands by 420.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock worth $57,000 after acquiring an additional 3,635 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.
Driven Brands Company Profile
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.
Featured Stories
- Five stocks we like better than Driven Brands
- Telecom Earnings Reveal a Sector That Finally Looks Healthier
- Defense Earnings Show Readiness Now and Modernization Ahead
- Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off
- MarketBeat Week in Review – 07/20- 07/24
Receive News & Ratings for Driven Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Driven Brands and related companies with MarketBeat.com's FREE daily email newsletter.
