Driven Brands (NASDAQ:DRVN) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Driven Brands (NASDAQ:DRVN) posted its quarterly earnings data on Thursday. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.24 by $0.06, FiscalAI reports. The firm had revenue of $484.44 million during the quarter, compared to analyst estimates of $454.91 million. Driven Brands had a return on equity of 25.83% and a net margin of 6.55%.

Driven Brands Trading Up 2.5%

Shares of DRVN stock opened at $13.54 on Thursday. Driven Brands has a 12-month low of $9.80 and a 12-month high of $19.74. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 2.45. The stock’s 50-day moving average price is $13.08 and its 200-day moving average price is $13.93. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 16.31 and a beta of 0.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DRVN shares. Benchmark reiterated a “buy” rating on shares of Driven Brands in a research note on Tuesday, May 26th. William Blair lowered Driven Brands from an “outperform” rating to a “hold” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group reissued a “neutral” rating and issued a $14.75 price target on shares of Driven Brands in a report on Wednesday, May 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Driven Brands in a report on Friday, March 27th. Finally, BTIG Research lowered their price target on Driven Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Driven Brands has an average rating of “Moderate Buy” and a consensus target price of $17.28.

Institutional Investors Weigh In On Driven Brands

Several large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in shares of Driven Brands by 14.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,826,160 shares of the company’s stock worth $56,704,000 after purchasing an additional 491,919 shares during the last quarter. Boston Partners increased its holdings in shares of 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 last quarter. JPMorgan Chase & Co. increased its holdings in shares of Driven Brands by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,234,369 shares of the company’s stock worth $47,933,000 after purchasing an additional 86,281 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Driven Brands by 9.3% in the fourth quarter. Janus Henderson Group PLC now owns 2,477,179 shares of the company’s stock worth $36,712,000 after purchasing an additional 209,883 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Driven Brands by 19.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,161,642 shares of the company’s stock worth $32,038,000 after purchasing an additional 354,540 shares during the last quarter. 77.08% of the stock is owned by institutional investors.

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.