Brokerages Set Driven Brands Holdings Inc. (NASDAQ:DRVN) Target Price at $21.22

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) have been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $21.2222.

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Driven Brands from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research raised Driven Brands to a “hold” rating in a report on Friday, August 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $24.00 price objective on shares of Driven Brands in a research report on Thursday, September 18th. BTIG Research cut their target price on shares of Driven Brands from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Driven Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 12th.

Driven Brands Stock Performance

NASDAQ DRVN opened at $14.13 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 2.44. The business’s 50 day moving average is $14.96 and its two-hundred day moving average is $16.65. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -11.40, a PEG ratio of 0.83 and a beta of 1.04. Driven Brands has a 12-month low of $13.44 and a 12-month high of $19.74.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter. Driven Brands had a positive return on equity of 25.31% and a negative net margin of 9.14%.The firm had revenue of $564.12 million during the quarter. Research analysts expect that Driven Brands will post 0.85 EPS for the current year.

Insider Buying and Selling

In other Driven Brands news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $18.05, for a total value of $1,985,500.00. Following the completion of the transaction, the director directly owned 2,279,453 shares in the company, valued at approximately $41,144,126.65. The trade was a 4.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Driven Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. AustralianSuper Pty Ltd acquired a new stake in Driven Brands in the 3rd quarter worth about $44,645,000. Simcoe Capital Management LLC acquired a new stake in shares of Driven Brands in the third quarter worth approximately $33,911,000. Emeth Value Capital LLC grew its holdings in Driven Brands by 34.8% in the third quarter. Emeth Value Capital LLC now owns 3,263,911 shares of the company’s stock valued at $52,745,000 after purchasing an additional 842,668 shares during the period. Qube Research & Technologies Ltd acquired a new position in Driven Brands during the third quarter worth approximately $12,599,000. Finally, Advisory Research Inc. acquired a new position in Driven Brands during the third quarter worth approximately $10,725,000. 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.