Driven Brands (NASDAQ:DRVN) Stock Rating Cut to "Neutral" at BTIG Research

Key Points

• BTIG Research downgraded Driven Brands from “buy” to “neutral.”
• Analyst views are mixed: the consensus rating is “Hold,” with a consensus price target of $15.48; recommendations include two Strong Buys, four Buys, eight Holds, and three Sells.
• Driven Brands shares opened at $11.28, below their 50-day moving average of $12.16 and 200-day average of $13.27.

Driven Brands (NASDAQ:DRVN - Get Free Report) was downgraded by equities research analysts at BTIG Research from a "buy" rating to a "neutral" rating in a research report issued on Wednesday, Briefing.com reports.

A number of other brokerages have also issued reports on DRVN. Bank of America began coverage on Driven Brands in a report on Thursday, September 10th. They issued an "underperform" rating and a $12.00 price target for the company. Weiss Ratings cut shares of 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 objective on shares of Driven Brands in a research note on Friday, August 7th. Royal Bank Of Canada dropped their target price on shares of Driven Brands from $17.00 to $16.00 and set an "outperform" rating on the stock in a research report on Friday, August 7th. Finally, UBS Group reiterated a "buy" rating on shares of Driven Brands in a report on Thursday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $15.48.

Driven Brands Stock Performance

NASDAQ:DRVN opened at $11.28 on Wednesday. The stock has a market capitalization of $1.86 billion, a P/E ratio of 10.85, a P/E/G ratio of 2.17 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 has a 12-month low of $9.80 and a 12-month high of $17.30. The stock has a 50-day moving average price of $12.16 and a 200 day moving average price of $13.27.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its earnings results on Monday, July 27th. The company reported $0.29 earnings per share (EPS) for the quarter. Driven Brands had a return on equity of 24.13% and a net margin of 8.61%. Equities research analysts forecast that Driven Brands will post 1.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Several large investors have recently bought and sold shares of DRVN. Bfsg LLC raised its holdings 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 acquiring an additional 1,835 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Driven Brands by 3,373.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 10,975 shares of the company's stock worth $163,000 after purchasing an additional 10,659 shares during the last quarter. Pictet Asset Management Holding SA acquired a new position in shares of Driven Brands in the 1st quarter valued at $159,000. Vise Technologies Inc. acquired a new stake in shares of Driven Brands during the second quarter worth about $248,000. Finally, Engineers Gate Manager LP purchased a new stake in Driven Brands in the second quarter valued at approximately $310,000. Hedge funds and other institutional investors own 77.08% of the company's stock.

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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