Driven Brands (NASDAQ:DRVN) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Driven Brands (NASDAQ:DRVN) from a hold rating to a strong sell rating in a report released on Wednesday morning,Zacks.com reports.

DRVN has been the subject of several other research reports. BTIG Research restated a “buy” rating and issued a $21.00 target price on shares of Driven Brands in a report on Thursday, January 8th. Weiss Ratings restated a “sell (d)” rating on shares of Driven Brands in a report on Monday, December 29th. Stifel Nicolaus set a $23.00 target price on shares of Driven Brands in a research note on Monday, November 17th. JPMorgan Chase & Co. cut their target price on Driven Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. Finally, Wall Street Zen lowered shares of Driven Brands from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Driven Brands currently has a consensus rating of “Hold” and an average target price of $20.80.

Driven Brands Trading Up 1.6%

Shares of DRVN opened at $16.18 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 2.44. The firm’s fifty day moving average is $14.92 and its two-hundred day moving average is $16.02. Driven Brands has a 52-week low of $13.44 and a 52-week high of $19.74. The stock has a market cap of $2.66 billion, a PE ratio of -13.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.04.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. Driven Brands had a negative net margin of 9.14% and a positive return on equity of 25.31%. The business had revenue of $535.68 million during the quarter, compared to analysts’ expectations of $535.35 million. Driven Brands has set its FY 2025 guidance at 1.230-1.280 EPS. Research analysts forecast that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DRVN. Lazard Asset Management LLC increased its position in shares of Driven Brands by 0.3% in 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 in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Driven Brands by 2.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 30,900 shares of the company’s stock valued at $543,000 after purchasing an additional 800 shares during the period. Osaic Holdings Inc. lifted its position in shares of Driven Brands by 82.1% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock worth $37,000 after purchasing an additional 941 shares in the last quarter. Creative Planning boosted its holdings in shares of Driven Brands by 4.4% during the second quarter. Creative Planning now owns 34,247 shares of the company’s stock worth $601,000 after purchasing an additional 1,444 shares during the period. Finally, Boothbay Fund Management LLC increased its stake in Driven Brands by 2.2% in the 3rd quarter. Boothbay Fund Management LLC now owns 69,315 shares of the company’s stock valued at $1,117,000 after buying an additional 1,488 shares during the period. Institutional investors and hedge funds 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.