Wall Street Zen Downgrades Driven Brands (NASDAQ:DRVN) to Hold

Driven Brands (NASDAQ:DRVN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler reduced their target price on shares of Driven Brands from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Stifel Nicolaus set a $23.00 price target on Driven Brands in a report on Monday, November 17th. JPMorgan Chase & Co. reduced their price objective on Driven Brands from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, November 12th. William Blair upgraded Driven Brands from a “market perform” rating to an “outperform” rating in a research report on Wednesday, December 3rd. Finally, BTIG Research cut their target price on Driven Brands from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.22.

Driven Brands Trading Down 0.6%

Shares of Driven Brands stock opened at $15.41 on Friday. Driven Brands has a 1 year low of $13.44 and a 1 year high of $19.74. The company’s fifty day simple moving average is $14.78 and its 200-day simple moving average is $16.47. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -12.43, a PEG ratio of 1.28 and a beta of 1.04. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 2.44.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter. The firm had revenue of $564.12 million during the quarter. Driven Brands had a negative net margin of 9.14% and a positive return on equity of 25.31%. As a group, sell-side analysts expect that Driven Brands will post 0.85 EPS for the current year.

Hedge Funds Weigh In On Driven Brands

Several hedge funds and other institutional investors have recently modified their holdings of DRVN. Osaic Holdings Inc. boosted its stake in Driven Brands by 82.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after buying an additional 941 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Driven Brands by 744.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after acquiring an additional 1,854 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Driven Brands by 1,113.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,338 shares of the company’s stock valued at $54,000 after purchasing an additional 3,063 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Driven Brands in the 1st quarter worth about $72,000. Finally, Versant Capital Management Inc bought a new stake in shares of Driven Brands in the 3rd quarter worth about $84,000. Institutional investors own 77.08% of the company’s stock.

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.