Driven Brands (NASDAQ:DRVN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Driven Brands (NASDAQ:DRVN) from a hold rating to a buy rating in a report issued on Saturday.

DRVN has been the topic of a number of other reports. BMO Capital Markets dropped their price target on shares of Driven Brands from $18.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, May 21st. Canaccord Genuity Group set a $18.00 price objective on shares of Driven Brands in a research note on Monday, June 8th. Weiss Ratings raised shares of Driven Brands from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. William Blair downgraded Driven Brands from an “outperform” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, Robert W. Baird set a $18.00 target price on Driven Brands and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Driven Brands currently has an average rating of “Moderate Buy” and a consensus target price of $17.18.

Driven Brands Trading Up 5.6%

NASDAQ DRVN opened at $14.37 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.25 and a debt-to-equity ratio of 2.08. The business has a fifty day simple moving average of $13.90 and a 200 day simple moving average of $13.76. Driven Brands has a 12 month low of $9.80 and a 12 month high of $19.74. The firm has a market capitalization of $2.37 billion, a P/E ratio of 12.83 and a beta of 0.96.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Thursday, June 11th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. Driven Brands had a net margin of 9.08% and a return on equity of 25.70%. The firm had revenue of $484.44 million for the quarter, compared to the consensus estimate of $480.84 million. During the same period in the previous year, the firm earned $0.27 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, analysts predict that Driven Brands will post 1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

Institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its holdings in Driven Brands by 82.1% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock worth $37,000 after buying an additional 941 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Driven Brands by 744.6% in 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 last quarter. Comerica Bank boosted its stake in Driven Brands by 328.8% in the fourth quarter. Comerica Bank now owns 2,933 shares of the company’s stock valued at $43,000 after acquiring an additional 2,249 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Driven Brands by 1,347.7% during the 4th quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock valued at $57,000 after acquiring an additional 3,558 shares during the period. Finally, SJS Investment Consulting Inc. grew its position in shares of Driven Brands by 420.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock valued at $57,000 after acquiring an additional 3,635 shares during the period. Institutional investors own 77.08% of the company’s stock.

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.