Driven Brands: I Expect Margin Expansion And Guidance Beat (Rating Upgrade) [Seeking Alpha]
Driven Brands Holdings Inc. (DRVN)
Company Research
Source: Seeking Alpha
Car wash segment experiencing significant margin expansion, demonstrating effective cost control and improved profitability. Integration of Glass business unit progressing ahead of schedule, with potential for acceleration in benefits in the future. Summary Following my coverage of Driven Brands Holdings ( NASDAQ: DRVN ), for which I recommended a hold rating as I wanted to monitor the business's ability to improve margins over the next few quarters, this post is to provide an update on my thoughts on the business and stock. I am now upgrading my rating to buy as I believe the share price weakness is overdone. While total EBITDA margin is down, car wash EBITDA margin improved significantly, and I foresee two key catalysts that could drive margin to meet management FY26 guidance. Regarding the poor guidance, I believe it was due to management being conservative, and they should have no issues beating it. Investment thesis DRVN reported 4Q23 system-wide sales growth of 3% y/y
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DRVN
News
- Driven Brands Holdings Inc. (NASDAQ: DRVN) had its price target lowered by analysts at Barclays PLC from $25.00 to $22.00. They now have an "overweight" rating on the stock.MarketBeat
- Driven Brands Holdings Inc. (NASDAQ:DRVN) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Driven Brands Holdings Inc. (NASDAQ: DRVN) had its price target lowered by analysts at Canaccord Genuity Group Inc. from $21.00 to $17.00. They now have a "buy" rating on the stock.MarketBeat
- Driven Brands Holdings Inc. (NASDAQ: DRVN) had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $16.00 to $14.00. They now have a "neutral" rating on the stock.MarketBeat
- Driven Brands Holdings Inc. (NASDAQ: DRVN) had its price target lowered by analysts at Piper Sandler from $18.00 to $14.00. They now have an "overweight" rating on the stock.MarketBeat
DRVN
Earnings
- 5/2/24 - Beat
DRVN
Sec Filings
- 5/17/24 - Form 3
- 5/14/24 - Form 8-K
- 5/8/24 - Form 10-Q
- DRVN's page on the SEC website