Driven Brands (NASDAQ:DRVN) Cut to “Neutral” at BTIG Research

BTIG Research cut shares of Driven Brands (NASDAQ:DRVN) from a buy rating to a neutral rating in a report issued on Wednesday morning, MarketBeat Ratings reports.

A number of other equities analysts have also recently commented on the company. Royal Bank Of Canada lowered their price target on Driven Brands from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Bank of America initiated coverage on shares of Driven Brands in a research note on Thursday, September 10th. They issued an “underperform” rating and a $12.00 target price on the stock. Canaccord Genuity Group cut Driven Brands from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research report on Tuesday. Morgan Stanley set a $14.00 price objective on shares of Driven Brands in a research report on Friday, August 7th. Finally, UBS Group reissued a “buy” rating on shares of Driven Brands in a research report on Thursday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.48.

Driven Brands Trading Down 1.6%

Shares of NASDAQ DRVN opened at $11.89 on Wednesday. Driven Brands has a 12 month low of $9.80 and a 12 month high of $17.30. The business has a fifty day simple moving average of $12.10 and a 200-day simple moving average of $13.22. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 1.99. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 2.17 and a beta of 0.91.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data 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 predict that Driven Brands will post 1.10 EPS for the current year.

Hedge Funds Weigh In On Driven Brands

Several institutional investors have recently bought and sold shares of DRVN. Bfsg LLC grew its position in shares of Driven Brands by 22.2% in the third quarter. Bfsg LLC now owns 10,094 shares of the company’s stock valued at $119,000 after purchasing an additional 1,835 shares during the period. Pictet Asset Management Holding SA acquired a new stake in Driven Brands in the 1st quarter valued at about $159,000. Rockefeller Capital Management L.P. increased its holdings in Driven Brands by 3,373.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,975 shares of the company’s stock worth $163,000 after purchasing an additional 10,659 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Driven Brands during the 2nd quarter worth approximately $248,000. Finally, Calamos Advisors LLC acquired a new stake in Driven Brands in the first quarter valued at approximately $285,000. 77.08% of the stock is owned by institutional investors and hedge funds.

About Driven Brands

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.