Zacks Research upgraded shares of Driven Brands (NASDAQ:DRVN – Free Report) from a strong sell rating to a hold rating in a research note published on Thursday morning,Zacks.com reports.
A number of other analysts also recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and set a $21.00 price target on shares of Driven Brands in a report on Thursday, January 8th. Benchmark reissued a “buy” rating on shares of Driven Brands in a research report on Wednesday, December 3rd. William Blair upgraded Driven Brands from a “market perform” rating to an “outperform” rating in a research note on Wednesday, December 3rd. Piper Sandler downgraded Driven Brands from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $12.00 in a report on Wednesday, February 25th. Finally, Wall Street Zen lowered shares of Driven Brands from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Driven Brands has an average rating of “Hold” and an average target price of $20.00.
Read Our Latest Analysis on DRVN
Driven Brands Trading Up 2.7%
Driven Brands (NASDAQ:DRVN – Get Free Report) last posted its quarterly earnings results on Monday, March 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The company had revenue of $457.33 million for the quarter, compared to analyst estimates of $459.50 million. Driven Brands had a positive return on equity of 25.31% and a negative net margin of 9.14%.During the same quarter last year, the company earned $0.30 EPS. Sell-side analysts expect that Driven Brands will post 0.85 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Driven Brands news, insider Scott L. O’melia sold 46,875 shares of Driven Brands stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $16.00, for a total transaction of $750,000.00. Following the transaction, the insider owned 326,944 shares of the company’s stock, valued at $5,231,104. The trade was a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.50% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Driven Brands
A number of hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC increased its holdings in shares of Driven Brands by 0.3% in the 2nd quarter. Lazard Asset Management LLC now owns 216,423 shares of the company’s stock valued at $3,800,000 after acquiring an additional 682 shares during the period. ProShare Advisors LLC grew its position in Driven Brands by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 10,917 shares of the company’s stock worth $162,000 after purchasing an additional 701 shares during the last quarter. Handelsbanken Fonder AB grew its position in Driven Brands by 2.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 30,900 shares of the company’s stock worth $543,000 after purchasing an additional 800 shares during the last quarter. Mariner LLC increased its stake in Driven Brands by 1.1% in the fourth quarter. Mariner LLC now owns 71,736 shares of the company’s stock valued at $1,063,000 after purchasing an additional 812 shares during the period. Finally, Osaic Holdings Inc. raised its holdings in shares of Driven Brands by 82.1% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after buying an additional 941 shares during the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.
Trending Headlines about Driven Brands
Here are the key news stories impacting Driven Brands this week:
- Positive Sentiment: Proposed class-action settlement announced by lead counsel, which may cap some litigation risk and was a likely catalyst for buying interest today. Proposed Settlement Announcement
- Neutral Sentiment: Reported short-interest data appears to show zero reported short shares (likely a data error or reporting lag); days-to-cover reported as 0.0 — this is not meaningful evidence of a large short-squeeze. (Internal reporting entries dated 3/19–3/20.)
- Negative Sentiment: Multiple securities class actions and investor-alerts filed or announced by law firms (Hagens Berman, Rosen, Kessler Topaz, BFA, Bernstein Liebhard, Pomerantz, etc.) alleging pervasive accounting errors and internal control failures covering fiscal years 2023–2025 after the company said its financials can no longer be relied upon. This wave of litigation follows a reported ~39% stock drop tied to the disclosure and creates ongoing legal, financial restatement, and reputational risk. Hagens Berman Notice BFA/BusinessWire Notice
Driven Brands Company Profile
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.
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