Driven Brands Holdings Inc. (NASDAQ:DRVN) Receives $20.80 Consensus Price Target from Analysts

Driven Brands Holdings Inc. (NASDAQ:DRVN) has received a consensus rating of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $20.80.

A number of equities analysts have recently weighed in on DRVN shares. William Blair upgraded Driven Brands from a “market perform” rating to an “outperform” rating in a report on Wednesday, December 3rd. Stifel Nicolaus set a $23.00 target price on shares of Driven Brands in a research note on Monday, November 17th. Piper Sandler reduced their price target on shares of Driven Brands from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Zacks Research cut shares of Driven Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of Driven Brands from a “buy” rating to a “hold” rating in a report on Saturday, December 13th.

Insider Buying and Selling

In related news, insider Scott L. O’melia sold 46,875 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $16.00, for a total value of $750,000.00. Following the sale, the insider owned 326,944 shares of the company’s stock, valued at approximately $5,231,104. This represents a 12.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Driven Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners boosted its holdings in Driven Brands by 1,301.0% in the fourth quarter. Boston Partners now owns 3,426,388 shares of the company’s stock worth $50,783,000 after purchasing an additional 3,181,812 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of Driven Brands in the 3rd quarter valued at about $44,645,000. Simcoe Capital Management LLC acquired a new position in shares of Driven Brands in the 3rd quarter valued at about $33,911,000. Emeth Value Capital LLC grew its position in shares of Driven Brands by 34.8% during the 3rd quarter. Emeth Value Capital LLC now owns 3,263,911 shares of the company’s stock valued at $52,745,000 after buying an additional 842,668 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Driven Brands during the third quarter worth about $12,599,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Trading Up 1.0%

NASDAQ:DRVN opened at $16.84 on Thursday. The firm has a 50-day simple moving average of $15.56 and a 200-day simple moving average of $15.89. Driven Brands has a one year low of $13.44 and a one year high of $19.74. The firm has a market cap of $2.77 billion, a P/E ratio of -13.58, a P/E/G ratio of 1.19 and a beta of 1.04. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.80 and a current ratio of 0.90.

About Driven Brands

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.