Driven Brands (NASDAQ:DRVN) Coverage Initiated by Analysts at Bank of America

Investment analysts at Bank of America initiated coverage on shares of Driven Brands (NASDAQ:DRVN) in a research report issued on Thursday. The firm set an “underperform” rating and a $12.00 price target on the stock. Bank of America‘s price target indicates a potential downside of 1.96% from the company’s current price.

DRVN has been the subject of a number of other reports. BTIG Research reiterated a “buy” rating and issued a $17.00 price objective on shares of Driven Brands in a research note on Friday, June 12th. Canaccord Genuity Group set a $17.00 price target on Driven Brands in a research report on Friday, August 7th. Wall Street Zen lowered Driven Brands from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Royal Bank Of Canada dropped their price objective on Driven Brands from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Finally, Benchmark restated a “buy” rating on shares of Driven Brands in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Driven Brands currently has an average rating of “Moderate Buy” and a consensus price target of $16.34.

Driven Brands Stock Performance

DRVN traded down $0.29 during trading hours on Thursday, hitting $12.24. The stock had a trading volume of 141,668 shares, compared to its average volume of 1,418,468. Driven Brands has a 1 year low of $9.80 and a 1 year high of $18.60. The company’s fifty day simple moving average is $13.85 and its 200 day simple moving average is $13.13. The stock has a market cap of $2.02 billion, a PE ratio of 11.79 and a beta of 0.94. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 1.99.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Monday, July 27th. The company reported $0.29 EPS for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. Equities analysts anticipate that Driven Brands will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DRVN. Lazard Asset Management LLC grew its position in shares of Driven Brands by 0.3% during the 2nd quarter. Lazard Asset Management LLC now owns 216,423 shares of the company’s stock valued at $3,800,000 after purchasing an additional 682 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Driven Brands by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 10,917 shares of the company’s stock worth $162,000 after buying an additional 701 shares in the last quarter. Mariner LLC raised its position in shares of Driven Brands by 1.1% in the fourth quarter. Mariner LLC now owns 71,736 shares of the company’s stock worth $1,063,000 after buying an additional 812 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Driven Brands by 82.1% during 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 period. Finally, Vident Advisory LLC boosted its stake in Driven Brands by 8.0% during the fourth quarter. Vident Advisory LLC now owns 19,620 shares of the company’s stock valued at $291,000 after buying an additional 1,458 shares during the period. 77.08% of the stock is owned by institutional investors.

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.