Wall Street Zen Upgrades Driven Brands (NASDAQ:DRVN) to Buy

Key Points

• Wall Street Zen upgraded Driven Brands from “hold” to “buy,” though the broader analyst consensus remains “Hold,” with an average price target of $16.23.
• Driven Brands shares opened at $11.74, down 0.7%, with a market capitalization of approximately $1.94 billion and a 52-week range of $9.80 to $17.30.
• Institutional investors own 77.08% of the company, while Driven Brands reported quarterly EPS of $0.29 and analysts expect full-year EPS of $1.13.

Driven Brands (NASDAQ:DRVN - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

Several other brokerages also recently commented on DRVN. Morgan Stanley set a $14.00 target price on shares of Driven Brands in a report on Friday, August 7th. Bank of America started coverage on shares of Driven Brands in a report on Thursday, September 10th. They issued an "underperform" rating and a $12.00 price target for the company. Canaccord Genuity Group increased their price objective 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. UBS Group restated a "buy" rating on shares of Driven Brands in a report on Thursday, September 10th. Finally, Royal Bank Of Canada dropped their price objective on shares of Driven Brands from $17.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Driven Brands has a consensus rating of "Hold" and an average price target of $16.23.

Driven Brands Stock Down 0.7%

NASDAQ DRVN opened at $11.74 on Friday. The stock has a market capitalization of $1.94 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 2.02 and a beta of 0.96. Driven Brands has a 52 week low of $9.80 and a 52 week high of $17.30. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.33 and a current ratio of 1.47. The stock has a fifty day moving average of $12.32 and a 200-day moving average of $13.14.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly 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%. On average, equities research analysts forecast that Driven Brands will post 1.13 EPS for the current year.

Institutional Trading of Driven Brands

A number of institutional investors have recently bought and sold shares of DRVN. SJS Investment Consulting Inc. raised its position in Driven Brands by 420.2% during the first quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company's stock valued at $57,000 after purchasing an additional 3,635 shares in the last quarter. Rockefeller Capital Management L.P. raised 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 acquiring an additional 10,659 shares in the last quarter. Pictet Asset Management Holding SA bought a new position in shares of Driven Brands in the first quarter worth about $159,000. Vise Technologies Inc. bought a new position in shares of Driven Brands in the second quarter worth about $248,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Driven Brands in the 2nd quarter valued at approximately $310,000. Institutional investors 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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