Driven Brands (NASDAQ:DRVN) Earns Underperform Rating from Analysts at Bank of America

Bank of America began coverage on shares of Driven Brands (NASDAQ:DRVN) in a research note released on Thursday morning. The brokerage issued an underperform rating and a $12.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group set a $17.00 price objective on shares of Driven Brands in a research report on Friday, August 7th. Benchmark reiterated a “buy” rating on shares of Driven Brands in a research report on Tuesday, May 26th. Morgan Stanley set a $14.00 target price on Driven Brands in a research note on Friday, August 7th. Royal Bank Of Canada lowered their price target on Driven Brands from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $14.75 price target on shares of Driven Brands in a research note on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Driven Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.43.

Driven Brands Stock Down 1.2%

Shares of NASDAQ DRVN opened at $12.15 on Thursday. Driven Brands has a 12 month low of $9.80 and a 12 month high of $18.54. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 1.99. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 11.68 and a beta of 0.94. The business has a 50-day moving average of $13.76 and a 200-day moving average of $13.09.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Monday, July 27th. The company reported $0.29 earnings per share for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. Sell-side analysts expect that Driven Brands will post 1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Driven Brands during the 2nd quarter valued at about $67,107,000. Bamco Inc. NY purchased a new position in Driven Brands in the 2nd quarter worth approximately $62,766,000. Boston Partners increased its stake in Driven Brands by 1,301.0% in the 4th quarter. Boston Partners now owns 3,426,388 shares of the company’s stock worth $50,783,000 after purchasing an additional 3,181,812 shares during the period. Rubric Capital Management LP bought a new stake in Driven Brands in the first quarter valued at approximately $37,830,000. Finally, Jupiter Topco LLC bought a new stake in Driven Brands in the second quarter valued at approximately $35,214,000. Institutional investors own 77.08% of the company’s stock.

About Driven Brands

Driven Brands Holdings Inc is an automotive services company that operates and franchises a network of businesses serving vehicle owners and commercial customers. Its services include routine vehicle maintenance, oil changes, automotive repair, collision repair, paint and glass services, and car washing.

The company’s portfolio includes brands such as Take 5 Oil Change, Meineke Car Care Centers, MAACO, CARSTAR, and Fix Auto. Through these brands, Driven Brands provides services ranging from preventative maintenance and mechanical repairs to bodywork, paint repair, windshield replacement, and vehicle appearance care.