Driven Brands (NASDAQ:DRVN) Rating Lowered to Hold at Wall Street Zen

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

Several other equities analysts have also commented on the company. The Goldman Sachs Group initiated 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. Benchmark initiated coverage on Driven Brands in a research note on Friday, April 4th. They set a "buy" rating and a $22.00 price target on the stock. Finally, Canaccord Genuity Group raised 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. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Driven Brands Trading Up 0.6%

NASDAQ:DRVN traded up $0.11 during midday trading on Friday, hitting $17.56. 562,031 shares of the company traded hands, compared to its average volume of 694,815. The firm's fifty day moving average is $17.40 and its 200-day moving average is $16.68. Driven Brands has a 12-month low of $12.34 and a 12-month high of $18.72. The firm has a market capitalization of $2.88 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.00 and a beta of 1.11. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 4.07.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its earnings results 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. Driven Brands had a positive return on equity of 19.61% and a negative net margin of 12.75%. The business had revenue of $516.16 million during the quarter, compared to the consensus estimate of $492.19 million. During the same period last year, the company earned $0.23 earnings per share. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts predict that Driven Brands will post 0.85 EPS for the current year.

Institutional Investors Weigh In On Driven Brands

A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 valued at $550,000 after purchasing an additional 1,079 shares in the last quarter. MetLife Investment Management LLC boosted its position in Driven Brands by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 37,161 shares of the company's stock valued at $600,000 after purchasing an additional 2,003 shares in the last quarter. Vident Advisory LLC boosted its holdings in Driven Brands by 14.6% in the first quarter. Vident Advisory LLC now owns 19,146 shares of the company's stock worth $328,000 after acquiring an additional 2,435 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Driven Brands by 25.3% in the first quarter. SG Americas Securities LLC now owns 17,194 shares of the company's stock worth $295,000 after acquiring an additional 3,474 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Driven Brands by 5.5% in the fourth quarter. Legal & General Group Plc now owns 73,791 shares of the company's stock worth $1,191,000 after acquiring an additional 3,833 shares in the last quarter. Institutional investors own 77.08% of the company's stock.

Driven Brands Company Profile

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.