Driven Brands (NASDAQ:DRVN) Receives Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Driven Brands (NASDAQ:DRVN) in a research report released on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a $24.00 price objective on the stock.

Several other brokerages have also recently commented on DRVN. The Goldman Sachs Group started coverage on Driven Brands in a research report on Tuesday, June 3rd. They set a “neutral” rating and a $20.00 price target for the company. BTIG Research reiterated a “buy” rating and issued a $22.00 target price on shares of Driven Brands in a research report on Friday, September 12th. JPMorgan Chase & Co. raised shares of Driven Brands from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $17.00 to $23.00 in a research note on Wednesday, August 6th. Wall Street Zen lowered shares of Driven Brands from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Zacks Research upgraded shares of Driven Brands to a “hold” rating in a report on Friday, August 8th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Driven Brands has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Driven Brands Stock Down 1.1%

DRVN stock opened at $16.89 on Thursday. Driven Brands has a 52 week low of $13.47 and a 52 week high of $19.74. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 2.82. The firm has a 50-day simple moving average of $17.57 and a 200-day simple moving average of $17.28. The stock has a market capitalization of $2.77 billion, a P/E ratio of -9.94, a P/E/G ratio of 1.03 and a beta of 1.09.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.The company had revenue of $550.99 million for the quarter, compared to analysts’ expectations of $540.12 million. During the same period in the previous year, the firm posted $0.35 EPS. Driven Brands’s revenue was up 6.2% compared to the same quarter last year. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. Equities analysts forecast that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Driven Brands news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $18.05, for a total value of $1,985,500.00. Following the transaction, the director directly owned 2,279,453 shares in the company, valued at $41,144,126.65. The trade was a 4.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.50% of the stock is owned by company insiders.

Institutional Trading of Driven Brands

Several institutional investors have recently made changes to their positions in DRVN. Osaic Holdings Inc. lifted its holdings in 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 acquiring an additional 941 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Driven Brands by 744.6% in 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 last quarter. Summit Securities Group LLC purchased a new position in shares of Driven Brands during the 1st quarter worth $72,000. Tower Research Capital LLC TRC increased its position in shares of Driven Brands by 709.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,490 shares of the company’s stock worth $149,000 after purchasing an additional 7,441 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Driven Brands during the 1st quarter worth about $182,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Company Profile

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.