Driven Brands (NASDAQ:DRVN) Upgraded at Wall Street Zen

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

Several other brokerages have also recently issued reports on DRVN. The Goldman Sachs Group started coverage on shares of Driven Brands in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $20.00 target price for the company. Canaccord Genuity Group upped their target price on shares of Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Benchmark initiated coverage on shares of Driven Brands in a research report on Friday, April 4th. They issued a "buy" rating and a $22.00 price target for the company. Robert W. Baird set a $25.00 price target on shares of Driven Brands in a research report on Thursday, March 13th. Finally, Piper Sandler upped their price target on shares of Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Driven Brands currently has an average rating of "Moderate Buy" and an average price target of $20.78.

Driven Brands Stock Down 2.2%

Shares of NASDAQ:DRVN traded down $0.41 during trading on Friday, hitting $17.82. 602,948 shares of the company were exchanged, compared to its average volume of 776,083. The firm's 50 day moving average price is $17.08 and its 200-day moving average price is $16.65. Driven Brands has a 12-month low of $10.88 and a 12-month high of $18.72. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The stock has a market capitalization of $2.93 billion, a P/E ratio of 445.50, a PEG ratio of 0.79 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business had revenue of $516.16 million during the quarter, compared to analysts' expectations of $492.19 million. During the same quarter in the prior year, the business posted $0.23 EPS. The company's revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts predict that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

Large investors have recently bought and sold shares of the company. Versor Investments LP raised its position in Driven Brands by 107.1% during the 4th quarter. Versor Investments LP now owns 43,900 shares of the company's stock worth $709,000 after buying an additional 22,700 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Driven Brands by 687.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 114,327 shares of the company's stock worth $1,845,000 after buying an additional 99,811 shares during the last quarter. Barclays PLC raised its position in Driven Brands by 36.0% during the 3rd quarter. Barclays PLC now owns 205,068 shares of the company's stock worth $2,928,000 after buying an additional 54,277 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Driven Brands during the 4th quarter worth $375,000. Finally, Bank of New York Mellon Corp raised its position in Driven Brands by 44.4% during the 4th quarter. Bank of New York Mellon Corp now owns 254,542 shares of the company's stock worth $4,108,000 after buying an additional 78,252 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

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.