Wall Street Zen Upgrades Driven Brands (NASDAQ:DRVN) to “Buy”

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

Several other research analysts also recently commented on the stock. Piper Sandler lifted their target price on shares of Driven Brands from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. William Blair cut shares of Driven Brands from an “outperform” rating to a “hold” rating in a report on Wednesday, April 22nd. BMO Capital Markets lowered their price target on 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 objective on Driven Brands and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Finally, BTIG Research reissued a “buy” rating and set a $17.00 price objective on shares of Driven Brands in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Driven Brands currently has an average rating of “Moderate Buy” and a consensus target price of $17.18.

Driven Brands Stock Performance

Shares of DRVN stock opened at $13.61 on Friday. Driven Brands has a 12 month low of $9.80 and a 12 month high of $19.74. The company has a market cap of $2.25 billion, a PE ratio of 12.15 and a beta of 0.96. The company has a quick ratio of 1.25, a current ratio of 1.38 and a debt-to-equity ratio of 2.08. The business’s 50 day moving average is $13.89 and its two-hundred day moving average is $13.76.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Thursday, June 11th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The business had revenue of $484.44 million during the quarter, compared to analysts’ expectations of $480.84 million. Driven Brands had a net margin of 9.08% and a return on equity of 25.70%. Driven Brands’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. Equities analysts predict that Driven Brands will post 1.08 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC increased its holdings in Driven Brands by 0.3% in the 2nd quarter. Lazard Asset Management LLC now owns 216,423 shares of the company’s stock valued at $3,800,000 after buying an additional 682 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Driven Brands by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 10,917 shares of the company’s stock worth $162,000 after acquiring an additional 701 shares during the period. Mariner LLC lifted its holdings in shares of Driven Brands by 1.1% during the 4th quarter. Mariner LLC now owns 71,736 shares of the company’s stock worth $1,063,000 after acquiring an additional 812 shares during the period. Osaic Holdings Inc. boosted its position in shares of Driven Brands by 82.1% during 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 in the last quarter. Finally, Vident Advisory LLC boosted its position in shares of Driven Brands by 8.0% during the 4th quarter. Vident Advisory LLC now owns 19,620 shares of the company’s stock valued at $291,000 after acquiring an additional 1,458 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Driven Brands Company Profile

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.