Driven Brands (NASDAQ:DRVN) Rating Increased to Buy at Wall Street Zen

Driven Brands (NASDAQ:DRVN) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

DRVN has been the topic of a number of other research reports. BMO Capital Markets decreased their target price 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. Robert W. Baird set a $18.00 price target on shares of Driven Brands and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Benchmark reiterated a “buy” rating on shares of Driven Brands in a research note on Tuesday, May 26th. Royal Bank Of Canada reduced their price target on Driven Brands from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, June 11th. Finally, William Blair cut Driven Brands from an “outperform” rating to a “hold” rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Driven Brands has an average rating of “Moderate Buy” and an average price target of $17.18.

Driven Brands Stock Down 0.5%

DRVN opened at $13.61 on Friday. The stock has a fifty day moving average of $13.89 and a 200-day moving average of $13.77. The company has a market capitalization of $2.25 billion, a P/E ratio of 12.15 and a beta of 0.96. Driven Brands has a fifty-two week low of $9.80 and a fifty-two week high of $19.74. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.25 and a current ratio of 1.38.

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

Institutional Investors Weigh In On Driven Brands

A number of institutional investors have recently added to or reduced their stakes in DRVN. Osaic Holdings Inc. increased its position 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 acquiring an additional 941 shares during the period. 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 worth $37,000 after purchasing an additional 1,854 shares during the period. Comerica Bank grew its stake in shares of Driven Brands by 328.8% in the fourth quarter. Comerica Bank now owns 2,933 shares of the company’s stock worth $43,000 after purchasing an additional 2,249 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Driven Brands by 1,347.7% in the fourth quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock worth $57,000 after purchasing an additional 3,558 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in Driven Brands by 420.2% in the first quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock valued at $57,000 after purchasing an additional 3,635 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.