Driven Brands (NASDAQ:DRVN) Announces Earnings Results

Driven Brands (NASDAQ:DRVN) announced its quarterly earnings results on Tuesday. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13, Briefing.com reports. The company had revenue of $564.12 million for the quarter, compared to analyst estimates of $572.95 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. Driven Brands’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 earnings per share.

Driven Brands Trading Up 2.7 %

Shares of Driven Brands stock opened at $15.32 on Tuesday. The business has a fifty day simple moving average of $16.02 and a 200-day simple moving average of $15.36. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $17.45. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 383.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84.

Analyst Upgrades and Downgrades

DRVN has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their price objective on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group boosted their price target on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus raised their price target on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

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.