Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives Consensus Rating of “Buy” from Brokerages

Driven Brands Holdings Inc. (NASDAQ:DRVN) has been given a consensus recommendation of “Buy” by the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $37.11.

DRVN has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of Driven Brands from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 2nd. Zacks Investment Research lowered shares of Driven Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, September 8th. Robert W. Baird raised their price objective on shares of Driven Brands from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Credit Suisse Group raised their price objective on shares of Driven Brands from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Finally, Stifel Nicolaus assumed coverage on shares of Driven Brands in a research note on Tuesday, June 29th. They set a “buy” rating and a $40.00 price objective for the company.

Shares of Driven Brands stock opened at $29.76 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.10 and a quick ratio of 0.98. The company has a 50-day moving average of $29.74 and a 200 day moving average of $28.44. The firm has a market cap of $4.98 billion and a price-to-earnings ratio of 72.59. Driven Brands has a 1 year low of $22.26 and a 1 year high of $35.56.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Tuesday, July 27th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The business had revenue of $374.83 million during the quarter, compared to the consensus estimate of $322.54 million. On average, equities analysts anticipate that Driven Brands will post 0.82 EPS for the current year.

In related news, major shareholder Driven Equity Llc sold 8,130,510 shares of the firm’s stock in a transaction that occurred on Monday, August 9th. The shares were sold at an average price of $29.50, for a total value of $239,850,045.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Rc Iv Cayman Icw Holdings Llc sold 284,212 shares of Driven Brands stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $29.50, for a total transaction of $8,384,254.00. The disclosure for this sale can be found here. In the last three months, insiders sold 21,296,115 shares of company stock worth $628,235,393. 2.60% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new stake in shares of Driven Brands during the first quarter valued at approximately $95,985,000. Alliancebernstein L.P. raised its position in shares of Driven Brands by 8.6% during the second quarter. Alliancebernstein L.P. now owns 3,658,058 shares of the company’s stock valued at $113,107,000 after buying an additional 290,028 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Driven Brands by 1.4% during the second quarter. Vanguard Group Inc. now owns 2,889,686 shares of the company’s stock valued at $89,348,000 after buying an additional 38,549 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Driven Brands by 28.2% during the second quarter. Neuberger Berman Group LLC now owns 2,784,775 shares of the company’s stock valued at $86,105,000 after buying an additional 611,930 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Driven Brands during the first quarter valued at approximately $54,237,000. 22.41% of the stock is currently owned by institutional investors and hedge funds.

About Driven Brands

Driven Brands Holdings Inc provides automotive services to retail and commercial customers in North America and internationally. It operates through Maintenance; Car Wash, Paint, Collision & Glass; and Platform Services segments. The company offers various services, such as paint, collision, refinishing, glass, vehicle repair, oil change, maintenance, and car wash services.

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Analyst Recommendations for Driven Brands (NASDAQ:DRVN)

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