Driven Brands Holdings Inc. (NASDAQ:DRVN) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Driven Brands has a consensus “Hold” rating from 17 analysts: seven hold, six buy, two strong buy, and two sell recommendations. The average 12-month price target is $16.23.
• Institutional investors own 77.08% of the company, while several hedge funds recently increased or initiated positions in the stock.
• Shares opened at $11.77, down 1.3%, and remain below their 50-day and 200-day moving averages. Driven Brands reported quarterly earnings of $0.29 per share, with analysts forecasting $1.13 in full-year EPS.

Driven Brands Holdings Inc. (NASDAQ:DRVN - Get Free Report) has been given a consensus rating of "Hold" by the seventeen brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $16.23.

A number of brokerages have issued reports on DRVN. UBS Group restated a "buy" rating on shares of Driven Brands in a research report on Thursday, September 10th. Morgan Stanley set a $14.00 price target on shares of Driven Brands in a research report on Friday, August 7th. Royal Bank Of Canada cut their price target 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. Barclays assumed coverage on Driven Brands in a research report on Tuesday, September 22nd. They set an "equal weight" rating and a $14.00 price target on the stock. Finally, Weiss Ratings downgraded Driven Brands from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, September 28th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. SJS Investment Consulting Inc. boosted its position in shares of Driven Brands by 420.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company's stock worth $57,000 after acquiring an additional 3,635 shares in the last quarter. Pictet Asset Management Holding SA bought a new position in shares of Driven Brands in the 1st quarter valued at $159,000. Rockefeller Capital Management L.P. raised its holdings in shares of Driven Brands by 3,373.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,975 shares of the company's stock worth $163,000 after buying an additional 10,659 shares in the last quarter. Vise Technologies Inc. acquired a new position in shares of Driven Brands during the 2nd quarter worth $248,000. Finally, Calamos Wealth Management LLC acquired a new position in shares of Driven Brands during the 1st quarter worth $285,000. Institutional investors own 77.08% of the company's stock.

Driven Brands Trading Down 1.3%

Shares of Driven Brands stock opened at $11.77 on Tuesday. Driven Brands has a 12-month low of $9.80 and a 12-month high of $17.30. The stock has a market cap of $1.94 billion, a P/E ratio of 11.32, a P/E/G ratio of 2.03 and a beta of 0.96. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 1.99. The business's 50 day moving average is $12.39 and its 200-day moving average is $13.16.

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

About Driven Brands

Driven Brands Holdings Inc is an automotive services company that operates and franchises a network of vehicle maintenance, repair, collision repair, and car wash businesses. Based in Charlotte, North Carolina, the company serves consumers and commercial customers through a portfolio of automotive service brands.

Its brands include Take 5 Oil Change, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C, CARSTAR, and other automotive repair and collision-service businesses. Services across the network include oil changes and preventive maintenance, mechanical repairs, auto body repair, paint and refinishing, replacement parts, and automotive glass services.

Driven Brands traces its history to Meineke, which was founded in 1972, and has expanded through acquisitions and franchise development.

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