Driven Brands (NASDAQ:DRVN) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Driven Brands (NASDAQ:DRVN) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other research analysts also recently commented on the company. William Blair raised Driven Brands from a “market perform” rating to an “outperform” rating in a report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Driven Brands in a report on Monday, December 8th. Benchmark reissued a “buy” rating on shares of Driven Brands in a research report on Wednesday, December 3rd. Piper Sandler reduced their price target on shares of Driven Brands from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Finally, JPMorgan Chase & Co. decreased their price target on Driven Brands from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, November 12th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.22.

Driven Brands Stock Down 1.9%

NASDAQ DRVN opened at $15.12 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 2.44. Driven Brands has a fifty-two week low of $13.44 and a fifty-two week high of $19.74. The business has a 50 day moving average price of $14.78 and a two-hundred day moving average price of $16.46. The stock has a market cap of $2.49 billion, a PE ratio of -12.19, a P/E/G ratio of 1.28 and a beta of 1.04.

Driven Brands (NASDAQ:DRVN) last posted 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, sell-side analysts predict that Driven Brands will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. grew its holdings in shares of Driven Brands by 82.1% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after purchasing an additional 941 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Driven Brands by 744.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock worth $37,000 after buying an additional 1,854 shares during the last quarter. Farther Finance Advisors LLC increased its position in Driven Brands by 1,113.8% in the third quarter. Farther Finance Advisors LLC now owns 3,338 shares of the company’s stock worth $54,000 after buying an additional 3,063 shares during the period. Summit Securities Group LLC bought a new stake in Driven Brands in the first quarter valued at $72,000. Finally, Versant Capital Management Inc acquired a new position in shares of Driven Brands during the third quarter valued at $84,000. Institutional investors own 77.08% of the company’s stock.

About Driven Brands

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.