Driven Brands (NASDAQ:DRVN) Downgraded to "Hold" Rating by Wall Street Zen

Driven Brands (NASDAQ:DRVN - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

Other analysts have also issued research reports about the company. Canaccord Genuity Group boosted their price target on Driven Brands from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Friday. The Goldman Sachs Group assumed coverage on Driven Brands in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $20.00 price target on the stock. Robert W. Baird set a $25.00 price target on Driven Brands in a research note on Thursday, March 13th. Finally, Benchmark started coverage on Driven Brands in a report on Friday, April 4th. They issued a "buy" rating and a $22.00 price objective for the company. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $20.89.

Driven Brands Stock Performance

Shares of NASDAQ:DRVN traded up $0.21 during trading on Friday, hitting $17.45. 648,622 shares of the stock were exchanged, compared to its average volume of 732,134. Driven Brands has a 1-year low of $12.24 and a 1-year high of $18.72. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -9.64, a price-to-earnings-growth ratio of 0.99 and a beta of 1.11. The company's fifty day simple moving average is $17.40 and its 200-day simple moving average is $16.68. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.33 and a current ratio of 1.47.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. The company had revenue of $516.16 million for the quarter, compared to analyst estimates of $492.19 million. Driven Brands had a positive return on equity of 19.61% and a negative net margin of 12.75%. Driven Brands's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 EPS. Sell-side analysts expect that Driven Brands will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Driven Brands by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,104 shares of the company's stock worth $550,000 after buying an additional 1,079 shares during the period. MetLife Investment Management LLC boosted its position in shares of Driven Brands by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 37,161 shares of the company's stock worth $600,000 after buying an additional 2,003 shares during the period. Vident Advisory LLC boosted its position in shares of Driven Brands by 14.6% during the first quarter. Vident Advisory LLC now owns 19,146 shares of the company's stock worth $328,000 after buying an additional 2,435 shares during the period. SG Americas Securities LLC boosted its position in shares of Driven Brands by 25.3% during the first quarter. SG Americas Securities LLC now owns 17,194 shares of the company's stock worth $295,000 after buying an additional 3,474 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Driven Brands by 5.5% during the fourth quarter. Legal & General Group Plc now owns 73,791 shares of the company's stock worth $1,191,000 after buying an additional 3,833 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

About Driven Brands

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.

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