Driven Brands (NASDAQ:DRVN) Cut to "Underweight" at Barclays

Key Points

• Barclays downgraded Driven Brands to “underweight” from “equal weight” and set an $11 price target, implying 2.48% downside from the price cited in the report.
• Analyst views are mixed: MarketBeat’s consensus is “Hold” with a $15.48 target, while ratings range from strong buy to sell.
• Driven Brands shares were reported down 11.3%; they opened at $11.28 and had traded between $9.80 and $17.30 over the prior 52 weeks.

Driven Brands (NASDAQ:DRVN - Get Free Report) was downgraded by Barclays from an "equal weight" rating to an "underweight" rating in a report released on Wednesday, Briefing.com reports. They presently have a $11.00 target price on the stock. Barclays's target price indicates a potential downside of 2.48% from the company's current price.

Several other analysts also recently weighed in on the company. Weiss Ratings downgraded Driven Brands from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, September 28th. Morgan Stanley set a $14.00 price target on Driven Brands in a research note on Friday, August 7th. Wall Street Zen upgraded Driven Brands from a "hold" rating to a "buy" rating in a research note on Saturday, October 24th. UBS Group reissued a "buy" rating on shares of Driven Brands in a report on Thursday, September 10th. Finally, Royal Bank Of Canada lowered their price objective on Driven Brands from $17.00 to $16.00 and set an "outperform" rating for the company in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $15.48.

Driven Brands Trading Down 11.3%

NASDAQ DRVN opened at $11.28 on Wednesday. The stock has a market cap of $1.86 billion, a P/E ratio of 10.85, a PEG ratio of 2.17 and a beta of 0.91. The company's fifty day simple moving average is $12.16 and its 200-day simple moving average is $13.27. 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 has a 52 week low of $9.80 and a 52 week high of $17.30.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its quarterly earnings results 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%. Equities research analysts predict that Driven Brands will post 1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DRVN. BlackRock Inc. acquired a new stake in shares of Driven Brands during the second quarter worth $67,107,000. Bamco Inc. NY bought a new position in shares of Driven Brands in the 2nd quarter worth about $62,766,000. Rubric Capital Management LP acquired a new position in shares of Driven Brands in the 1st quarter valued at about $37,830,000. Jupiter Topco LLC acquired a new position in shares of Driven Brands in the 2nd quarter valued at about $35,214,000. Finally, Janus Henderson Group PLC grew its position in shares of Driven Brands by 0.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,484,305 shares of the company's stock valued at $31,327,000 after buying an additional 7,126 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company's stock.

Driven Brands Company Profile

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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