Driven Brands (NASDAQ:DRVN) Rating Increased to Buy 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 sent to investors on Saturday morning.

DRVN has been the topic of a number of other reports. Canaccord Genuity Group reiterated a “buy” rating and set a $24.00 price target on shares of Driven Brands in a research note on Thursday, September 18th. JPMorgan Chase & Co. raised Driven Brands from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $17.00 to $23.00 in a report on Wednesday, August 6th. Piper Sandler cut their target price on Driven Brands from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Zacks Research raised Driven Brands to a “hold” rating in a report on Friday, August 8th. Finally, BTIG Research dropped their price objective on Driven Brands from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Driven Brands Stock Performance

Shares of Driven Brands stock traded down $0.26 during trading hours on Friday, hitting $13.85. 1,746,505 shares of the company were exchanged, compared to its average volume of 1,220,837. The company has a current ratio of 0.90, a quick ratio of 1.01 and a debt-to-equity ratio of 2.44. The business has a 50-day moving average of $16.24 and a 200-day moving average of $17.01. Driven Brands has a 1 year low of $13.65 and a 1 year high of $19.74. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -11.17, a P/E/G ratio of 0.81 and a beta of 1.05.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter. The company had revenue of $564.12 million for the quarter. Driven Brands had a negative net margin of 9.14% and a positive return on equity of 25.31%. As a group, analysts expect that Driven Brands will post 0.85 EPS for the current fiscal year.

Insider Transactions at Driven Brands

In other Driven Brands news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $18.05, for a total transaction of $1,985,500.00. Following the sale, the director directly owned 2,279,453 shares in the company, valued at approximately $41,144,126.65. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Driven Brands

Large investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC raised its position in Driven Brands by 0.3% during the second quarter. Lazard Asset Management LLC now owns 216,423 shares of the company’s stock worth $3,800,000 after acquiring an additional 682 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Driven Brands by 2.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 30,900 shares of the company’s stock worth $543,000 after purchasing an additional 800 shares in the last quarter. Osaic Holdings Inc. raised 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 worth $37,000 after purchasing an additional 941 shares during the last quarter. Creative Planning lifted its stake in Driven Brands by 4.4% in the 2nd quarter. Creative Planning now owns 34,247 shares of the company’s stock valued at $601,000 after buying an additional 1,444 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Driven Brands by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock valued at $610,000 after buying an additional 1,493 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

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.