Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Free Report)’s stock price gapped down prior to trading on Tuesday after BTIG Research downgraded the stock from a buy rating to a neutral rating. The stock had previously closed at $12.72, but opened at $10.75. Driven Brands shares last traded at $11.1930, with a volume of 266,009 shares.
Several other equities analysts have also weighed in on DRVN. Royal Bank Of Canada dropped their price objective on shares of Driven Brands from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. UBS Group reiterated a “buy” rating on shares of Driven Brands in a report on Thursday, September 10th. Weiss Ratings lowered shares of Driven Brands from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, September 28th. Barclays downgraded Driven Brands from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $14.00 to $11.00 in a research note on Wednesday. Finally, Bank of America began coverage on Driven Brands in a research report on Thursday, September 10th. They set an “underperform” rating and a $12.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Driven Brands has a consensus rating of “Hold” and a consensus target price of $15.48.
Check Out Our Latest Stock Analysis on DRVN
Institutional Investors Weigh In On Driven Brands
A number of institutional investors and hedge funds have recently modified their holdings of DRVN. Bfsg LLC raised its stake in 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 in the last quarter. Pictet Asset Management Holding SA bought a new stake in Driven Brands during the first quarter valued at approximately $159,000. Rockefeller Capital Management L.P. grew its stake in Driven Brands by 3,373.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,975 shares of the company’s stock worth $163,000 after buying an additional 10,659 shares in the last quarter. Vise Technologies Inc. purchased a new position in Driven Brands in the 2nd quarter worth approximately $248,000. Finally, Calamos Wealth Management LLC purchased a new position in Driven Brands in the 1st quarter worth approximately $285,000. 77.08% of the stock is owned by hedge funds and other institutional investors.
Driven Brands Stock Up 1.4%
The stock’s fifty day moving average price is $12.13 and its 200 day moving average price is $13.25. The stock has a market cap of $1.99 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 1.92 and a beta of 0.91. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 1.99.
Driven Brands (NASDAQ:DRVN – Get Free Report) 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%. As a group, research analysts forecast that Driven Brands Holdings Inc. will post 1.13 earnings per share for the current fiscal year.
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.
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