Driven Brands Holdings Inc. (NASDAQ:DRVN) Expected to Post Quarterly Sales of $433.41 Million

Analysts expect that Driven Brands Holdings Inc. (NASDAQ:DRVNGet Rating) will post $433.41 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Driven Brands’ earnings, with the lowest sales estimate coming in at $422.53 million and the highest estimate coming in at $456.72 million. Driven Brands reported sales of $329.42 million during the same quarter last year, which suggests a positive year-over-year growth rate of 31.6%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Driven Brands will report full-year sales of $1.89 billion for the current year, with estimates ranging from $1.87 billion to $1.93 billion. For the next year, analysts expect that the company will report sales of $2.09 billion, with estimates ranging from $2.05 billion to $2.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Driven Brands.

Driven Brands (NASDAQ:DRVNGet Rating) last announced its earnings results on Wednesday, February 16th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.02. Driven Brands had a return on equity of 8.69% and a net margin of 0.66%. The company had revenue of $391.89 million for the quarter, compared to analyst estimates of $352.57 million. During the same period in the prior year, the company posted ($0.06) EPS. Driven Brands’s quarterly revenue was up 35.8% on a year-over-year basis.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Driven Brands from a “buy” rating to a “hold” rating in a report on Thursday, March 3rd. Morgan Stanley boosted their price target on Driven Brands from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, February 18th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $40.17.

A number of institutional investors and hedge funds have recently modified their holdings of DRVN. Millennium Management LLC grew its stake in Driven Brands by 5,815.6% during the 3rd quarter. Millennium Management LLC now owns 1,903,470 shares of the company’s stock worth $54,991,000 after buying an additional 1,871,293 shares during the last quarter. Bain Capital Public Equity Management II LLC grew its stake in Driven Brands by 63.2% during the 3rd quarter. Bain Capital Public Equity Management II LLC now owns 3,745,089 shares of the company’s stock worth $108,196,000 after buying an additional 1,450,954 shares during the last quarter. Highside Global Management LLC bought a new position in Driven Brands during the 3rd quarter worth $19,239,000. Victory Capital Management Inc. grew its stake in Driven Brands by 131.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,167,269 shares of the company’s stock worth $33,722,000 after buying an additional 663,013 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Driven Brands by 43.1% in the third quarter. BlackRock Inc. now owns 1,989,000 shares of the company’s stock worth $57,463,000 after purchasing an additional 599,220 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Shares of DRVN traded up $0.09 during trading on Tuesday, reaching $26.65. The company’s stock had a trading volume of 407,505 shares, compared to its average volume of 363,001. Driven Brands has a twelve month low of $24.79 and a twelve month high of $34.62. The company has a quick ratio of 1.54, a current ratio of 1.64 and a debt-to-equity ratio of 1.43. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 666.42, a P/E/G ratio of 1.82 and a beta of 1.13. The company has a fifty day moving average of $27.74 and a two-hundred day moving average of $29.83.

About Driven Brands (Get Rating)

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. The company offers various services, such as paint, collision, glass, vehicle repair, car wash, oil change, and maintenance services.

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Earnings History and Estimates for Driven Brands (NASDAQ:DRVN)

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