Driven Brands (NASDAQ:DRVN) Stock Rating Upgraded by Wall Street Zen

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

Several other analysts have also weighed in on the company. The Goldman Sachs Group began coverage on Driven Brands in a report on Tuesday, June 3rd. They issued a “neutral” rating and a $20.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their target price on shares of Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 price target on shares of Driven Brands in a report on Thursday, March 13th. Finally, BMO Capital Markets raised their price objective on shares of Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.78.

Driven Brands Stock Up 4.6%

DRVN stock opened at $18.36 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The company’s 50-day moving average price is $17.03 and its 200 day moving average price is $16.63. Driven Brands has a 52 week low of $10.88 and a 52 week high of $18.72. The company has a market cap of $3.02 billion, a P/E ratio of 459.00, a P/E/G ratio of 0.79 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business had revenue of $516.16 million for the quarter, compared to analyst estimates of $492.19 million. During the same quarter in the previous year, the company earned $0.23 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts expect that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

A number of institutional investors have recently modified their holdings of DRVN. Summit Securities Group LLC purchased a new stake in Driven Brands in the 1st quarter worth approximately $72,000. LPL Financial LLC purchased a new stake in shares of Driven Brands in the fourth quarter valued at $178,000. XTX Topco Ltd acquired a new position in Driven Brands in the first quarter valued at $182,000. BNP Paribas Financial Markets purchased a new position in Driven Brands during the fourth quarter worth about $205,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Driven Brands in the 4th quarter worth about $215,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Company Profile

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.