Barclays Reaffirms "Equal Weight" Rating for Driven Brands (NASDAQ:DRVN)

Key Points

• Barclays reaffirmed its “Equal Weight” rating on Driven Brands and set a $14 price target, implying 15.61% upside from the prior close.
• Analyst opinions remain mixed, though the stock carries a consensus “Moderate Buy” rating with an average price target of $16.23.
• Driven Brands reported quarterly EPS of $0.29, while institutional investors own approximately 77.08% of the company’s shares.

Driven Brands (NASDAQ:DRVN - Get Free Report)'s stock had its "equal weight" rating reaffirmed by equities research analysts at Barclays in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $14.00 target price on the stock. Barclays's price objective would indicate a potential upside of 15.61% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the stock. UBS Group restated a "buy" rating on shares of Driven Brands in a research report on Thursday, September 10th. Canaccord Genuity Group upped their target price on shares of Driven Brands from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, September 10th. Bank of America initiated coverage on shares of Driven Brands in a research note on Thursday, September 10th. They set an "underperform" rating and a $12.00 price target on the stock. Royal Bank Of Canada lowered their price target on shares of Driven Brands from $17.00 to $16.00 and set an "outperform" rating for the company in a report on Friday, August 7th. Finally, Morgan Stanley set a $14.00 price objective on shares of Driven Brands in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $16.23.

Driven Brands Price Performance

Shares of Driven Brands stock opened at $12.11 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 1.99. The firm has a fifty day simple moving average of $13.41 and a 200-day simple moving average of $13.07. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.12 and a beta of 0.94. Driven Brands has a 1-year low of $9.80 and a 1-year high of $17.30.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.29 earnings per share (EPS) for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. On average, sell-side analysts expect that Driven Brands will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Engineers Gate Manager LP acquired a new position in shares of Driven Brands during the 2nd quarter worth about $310,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Driven Brands by 13.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,213 shares of the company's stock valued at $1,996,000 after buying an additional 16,903 shares during the period. Hsbc Holdings PLC raised its stake in Driven Brands by 53.7% in the second quarter. Hsbc Holdings PLC now owns 50,819 shares of the company's stock valued at $696,000 after buying an additional 17,745 shares during the period. Corient Private Wealth LP acquired a new stake in shares of Driven Brands in the second quarter valued at approximately $2,371,000. Finally, Bamco Inc. NY bought a new position in shares of Driven Brands during the 2nd quarter worth approximately $62,766,000. 77.08% of the stock is owned by institutional investors and hedge funds.

About Driven Brands

Driven Brands Holdings Inc is an automotive services company that operates and franchises a network of businesses serving vehicle owners and commercial customers. Its services include routine vehicle maintenance, oil changes, automotive repair, collision repair, paint and glass services, and car washing.

The company's portfolio includes brands such as Take 5 Oil Change, Meineke Car Care Centers, MAACO, CARSTAR, and Fix Auto. Through these brands, Driven Brands provides services ranging from preventative maintenance and mechanical repairs to bodywork, paint repair, windshield replacement, and vehicle appearance care.

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