Driven Brands Holdings Inc. (NASDAQ:DRVN) Expected to Post Quarterly Sales of $487.98 Million

Analysts forecast that Driven Brands Holdings Inc. (NASDAQ:DRVNGet Rating) will report $487.98 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Driven Brands’ earnings. The highest sales estimate is $518.70 million and the lowest is $469.10 million. Driven Brands posted sales of $374.83 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 30.2%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Driven Brands will report full-year sales of $1.95 billion for the current fiscal year, with estimates ranging from $1.91 billion to $1.98 billion. For the next financial year, analysts expect that the company will post sales of $2.16 billion, with estimates ranging from $2.12 billion to $2.19 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Driven Brands.

Driven Brands (NASDAQ:DRVNGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.07. The company had revenue of $468.32 million for the quarter, compared to the consensus estimate of $432.59 million. Driven Brands had a net margin of 3.99% and a return on equity of 9.61%. Driven Brands’s revenue for the quarter was up 42.2% on a year-over-year basis. During the same period last year, the firm posted $0.19 EPS.

A number of research analysts have recently weighed in on DRVN shares. Zacks Investment Research upgraded Driven Brands from a “sell” rating to a “hold” rating and set a $33.00 price target on the stock in a report on Tuesday, April 26th. Morgan Stanley upped their price objective 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 analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $38.80.

DRVN opened at $28.40 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.54 and a debt-to-equity ratio of 1.43. Driven Brands has a 52-week low of $25.02 and a 52-week high of $34.62. The stock’s 50 day simple moving average is $27.18. The stock has a market capitalization of $4.76 billion, a P/E ratio of 76.76, a P/E/G ratio of 1.79 and a beta of 1.13.

A number of institutional investors and hedge funds have recently made changes to their positions in DRVN. Millennium Management LLC boosted its stake in Driven Brands by 5,815.6% in the 3rd quarter. Millennium Management LLC now owns 1,903,470 shares of the company’s stock worth $54,991,000 after purchasing an additional 1,871,293 shares during the period. Bain Capital Public Equity Management II LLC boosted its holdings 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 worth $108,196,000 after acquiring an additional 1,450,954 shares in the last quarter. Highside Global Management LLC purchased a new position in shares of Driven Brands in the third quarter worth about $19,239,000. BlackRock Inc. raised its position in Driven Brands by 43.1% during the third quarter. BlackRock Inc. now owns 1,989,000 shares of the company’s stock valued at $57,463,000 after acquiring an additional 599,220 shares in the last quarter. Finally, Capital World Investors raised its position in Driven Brands by 38.7% during the fourth quarter. Capital World Investors now owns 1,983,000 shares of the company’s stock valued at $66,668,000 after acquiring an additional 553,000 shares in the last quarter. Institutional investors and hedge funds own 74.43% of the company’s stock.

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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