Driven Brands (NASDAQ:DRVN) Issues Earnings Results, Beats Expectations By $0.04 EPS

Driven Brands (NASDAQ:DRVN) issued its earnings results on Thursday. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04, Briefing.com reports. Driven Brands had a return on equity of 15.03% and a net margin of 0.27%. The business had revenue of $591.70 million during the quarter, compared to the consensus estimate of $598.49 million. During the same quarter last year, the company earned $0.19 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Driven Brands updated its FY 2024 guidance to 1.000-1.000 EPS.

Driven Brands Price Performance

DRVN traded down $0.10 during midday trading on Friday, hitting $14.75. The stock had a trading volume of 1,119,186 shares, compared to its average volume of 659,860. The company has a market cap of $2.42 billion, a P/E ratio of 368.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.11. Driven Brands has a 1 year low of $10.59 and a 1 year high of $16.00. The business has a fifty day moving average of $14.31 and a 200 day moving average of $13.21. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.91 and a current ratio of 2.11.

Analysts Set New Price Targets

Several brokerages recently commented on DRVN. BMO Capital Markets initiated coverage on shares of Driven Brands in a research note on Monday, July 22nd. They set a “market perform” rating and a $14.00 price objective for the company. Baird R W raised shares of Driven Brands to a “strong-buy” rating in a report on Friday, August 2nd. Benchmark reissued a “buy” rating and set a $20.00 price objective on shares of Driven Brands in a research note on Tuesday, August 20th. The Goldman Sachs Group upped their target price on Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird lifted their price target on Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.45.

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.