Driven Brands (NASDAQ:DRVN) Issues Earnings Results

Driven Brands (NASDAQ:DRVN) released its earnings results on Thursday. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06, FiscalAI reports. The firm had revenue of $484.44 million during the quarter, compared to the consensus estimate of $454.91 million. Driven Brands had a return on equity of 25.83% and a net margin of 6.55%.

Driven Brands Price Performance

NASDAQ DRVN opened at $13.54 on Thursday. The stock has a market capitalization of $2.23 billion, a P/E ratio of 16.31 and a beta of 0.97. Driven Brands has a 1 year low of $9.80 and a 1 year high of $19.74. The business’s fifty day moving average is $13.08 and its two-hundred day moving average is $13.93. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.67 and a current ratio of 0.75.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased 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 buying an additional 941 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Driven Brands by 744.6% during the 2nd 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 during the period. Tower Research Capital LLC TRC raised its stake in Driven Brands by 709.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,490 shares of the company’s stock valued at $149,000 after purchasing an additional 7,441 shares during the period. Federated Hermes Inc. raised its stake in Driven Brands by 30.5% during the 4th quarter. Federated Hermes Inc. now owns 8,727 shares of the company’s stock valued at $129,000 after purchasing an additional 2,040 shares during the period. Finally, Amundi acquired a new stake in Driven Brands during the 4th quarter valued at $169,000. Institutional investors own 77.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Driven Brands in a research report on Friday, March 27th. The Goldman Sachs Group restated a “neutral” rating and issued a $14.75 target price on shares of Driven Brands in a research report on Wednesday, May 20th. Morgan Stanley cut their target price on Driven Brands from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 20th. Canaccord Genuity Group set a $18.00 target price on Driven Brands in a research report on Monday. Finally, Benchmark restated a “buy” rating on shares of Driven Brands in a research report on Tuesday, May 26th. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Driven Brands has a consensus rating of “Moderate Buy” and an average target price of $17.28.

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.