William Blair Analysts Cut Earnings Estimates for Driven Brands Holdings Inc. (NASDAQ:DRVN)

Driven Brands Holdings Inc. (NASDAQ:DRVNGet Rating) – Equities researchers at William Blair reduced their Q2 2022 earnings estimates for Driven Brands in a research report issued on Wednesday, April 27th. William Blair analyst S. Zackfia now expects that the company will earn $0.36 per share for the quarter, down from their previous estimate of $0.38. William Blair also issued estimates for Driven Brands’ Q3 2022 earnings at $0.19 EPS and FY2024 earnings at $1.48 EPS.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Driven Brands from a “sell” rating to a “hold” rating and set a $33.00 price objective for the company in a research report on Tuesday, April 26th. Morgan Stanley increased their price target on Driven Brands from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, February 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $38.80.

DRVN stock opened at $27.89 on Monday. The business has a 50-day moving average of $27.18. Driven Brands has a 12 month low of $25.02 and a 12 month high of $34.62. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.64 and a quick ratio of 1.54. The company has a market capitalization of $4.67 billion, a PE ratio of 75.38, a P/E/G ratio of 1.84 and a beta of 1.13.

Driven Brands (NASDAQ:DRVNGet Rating) last issued its earnings results on Wednesday, April 27th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.21 by $0.07. The company had revenue of $468.32 million during the quarter, compared to analysts’ expectations of $432.59 million. Driven Brands had a net margin of 3.99% and a return on equity of 9.61%. The business’s revenue for the quarter was up 42.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 EPS.

Hedge funds have recently bought and sold shares of the stock. Bain Capital Public Equity Management II LLC grew its stake in Driven Brands by 63.2% in the third quarter. Bain Capital Public Equity Management II LLC now owns 3,745,089 shares of the company’s stock valued at $108,196,000 after acquiring an additional 1,450,954 shares during the period. Natixis acquired a new stake in shares of Driven Brands in the 3rd quarter worth about $1,421,000. Point72 Asset Management L.P. lifted its position in Driven Brands by 58.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 545,400 shares of the company’s stock valued at $15,757,000 after acquiring an additional 201,900 shares in the last quarter. Cornerstone Investment Partners LLC acquired a new position in Driven Brands during the 4th quarter valued at about $213,000. Finally, Capital World Investors raised its position in Driven Brands by 18.6% in the 3rd quarter. Capital World Investors now owns 1,430,000 shares of the company’s stock valued at $41,313,000 after buying an additional 224,200 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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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