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 research report report published on Saturday,Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group increased their price target on shares of Driven Brands from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Barclays started coverage on Driven Brands in a report on Tuesday, September 22nd. They set an “equal weight” rating and a $14.00 price target on the stock. Morgan Stanley set a $14.00 price target on Driven Brands in a research report on Friday, August 7th. Weiss Ratings cut Driven Brands from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, September 28th. Finally, Royal Bank Of Canada cut their price objective 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. 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 two have issued a Sell rating to the stock. According to data from MarketBeat, Driven Brands has a consensus rating of “Hold” and a consensus target price of $16.23.

Driven Brands Stock Performance

NASDAQ DRVN opened at $11.69 on Friday. The company’s 50 day simple moving average is $12.28 and its two-hundred day simple moving average is $13.37. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.47 and a quick ratio of 1.33. Driven Brands has a 1 year low of $9.80 and a 1 year high of $17.30. The stock has a market capitalization of $1.93 billion, a PE ratio of 11.24, a P/E/G ratio of 2.00 and a beta of 0.96.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results 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%. Analysts predict that Driven Brands will post 1.13 earnings per share for the current fiscal year.

Institutional Trading of Driven Brands

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Driven Brands in the 2nd quarter worth about $67,107,000. Bamco Inc. NY purchased a new stake in Driven Brands during the 2nd quarter valued at $62,766,000. Rubric Capital Management LP purchased a new stake in Driven Brands during the 1st quarter valued at $37,830,000. Jupiter Topco LLC bought a new position in shares of Driven Brands during the 2nd quarter valued at $35,214,000. Finally, Conversant Capital LLC purchased a new position in Driven Brands in the first quarter worth about $12,610,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Company Profile

Driven Brands Holdings Inc is an automotive services company that provides vehicle maintenance, repair, collision services and related products through a portfolio of franchised and company-operated brands. Its businesses serve both individual vehicle owners and commercial customers across a range of automotive aftermarket needs.

The company’s brands include Take 5 Oil Change, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C and Auto Glass Now. These brands provide services such as oil changes, routine maintenance, mechanical repair, paint and collision repair, replacement parts distribution and windshield repair and replacement.

Driven Brands was founded in 1972 and is headquartered in Charlotte, North Carolina.