Driven Brands Holdings Inc. (NASDAQ: DRVN) has received an average rating of “Moderate Buy” from ten analysts, according to Marketbeat Ratings. While one analyst has issued a sell recommendation, three have assigned a hold rating, and six analysts have indicated a buy recommendation. The consensus price target for Driven Brands stands at approximately $21.22.
Recent Analyst Activity
Driven Brands has been the subject of several recent analyst reports. On Wednesday, William Blair upgraded the company from a “market perform” rating to an “outperform” rating. Meanwhile, Piper Sandler revised its target price from $22.00 to $19.00, maintaining an “overweight” rating. In a report released on September 18, Canaccord Genuity Group reaffirmed a “buy” rating with a target price of $24.00. Stifel Nicolaus set its price objective at $23.00 in a report dated November 17. Additionally, Zacks Research upgraded Driven Brands to a “hold” rating in an August 8 note.
Driven Brands last reported its quarterly earnings on March 12. The company achieved earnings per share (EPS) of $0.30 and generated revenue of $564.12 million for the quarter. Driven Brands demonstrated a positive return on equity of 25.31%, although it recorded a negative net margin of 9.14%. Analysts predict that Driven Brands will post an EPS of 0.85 for the current fiscal year.
Insider Trading and Institutional Activity
In related news, Director Jonathan G. Fitzpatrick sold 110,000 shares of Driven Brands stock on September 15 at an average price of $18.05, totaling approximately $1,985,500.00. Following this transaction, Fitzpatrick retains ownership of 2,279,453 shares, valued at around $41,144,126.65. This sale represents a 4.60% decrease in his ownership stake. The transaction has been disclosed in a filing with the Securities and Exchange Commission.
Institutional investors have also been active in adjusting their positions in Driven Brands. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position worth $245,000 in the first quarter. Mackenzie Financial Corp increased its stake by 69.2%, now holding 75,194 shares valued at approximately $1,289,000 after acquiring an additional 30,741 shares. Other notable investors include XTX Topco Ltd and Blueshift Asset Management LLC, both of which purchased new stakes during the same quarter.
Overall, institutional investors own 77.08% of Driven Brands stock, indicating strong support from the investment community.
Driven Brands Holdings Inc., through its subsidiaries, provides a variety of automotive services to retail and commercial customers across the United States, Canada, and internationally. Its services include paint, collision, glass repair, car wash, oil changes, and maintenance, along with the distribution of automotive parts and consumables.
