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

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

A number of other analysts have also commented on DRVN. Benchmark initiated coverage on Driven Brands in a report on Friday, April 4th. They issued a "buy" rating and a $22.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. BMO Capital Markets lifted their price objective on Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their price objective on Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group initiated coverage on Driven Brands in a report on Tuesday. They issued a "neutral" rating and a $20.00 price objective for the company. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Driven Brands currently has an average rating of "Moderate Buy" and a consensus price target of $20.78.

Driven Brands Stock Up 4.6%

Driven Brands stock opened at $18.36 on Friday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 459.00, a PEG ratio of 0.79 and a beta of 1.11. The stock has a fifty day simple moving average of $17.03 and a two-hundred day simple moving average of $16.62. Driven Brands has a 12 month low of $10.88 and a 12 month high of $18.72. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84.

Driven Brands (NASDAQ:DRVN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. The business had revenue of $516.16 million during the quarter, compared to analyst estimates of $492.19 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. Equities analysts predict that Driven Brands will post 0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

Several institutional investors and hedge funds have recently bought and sold shares of the stock. North Peak Capital Management LLC lifted its position in shares of Driven Brands by 8.6% in the fourth quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company's stock valued at $92,905,000 after acquiring an additional 457,217 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Driven Brands by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company's stock valued at $92,134,000 after acquiring an additional 31,431 shares in the last quarter. Bamco Inc. NY lifted its position in shares of Driven Brands by 35.7% in the fourth quarter. Bamco Inc. NY now owns 4,750,000 shares of the company's stock valued at $76,665,000 after acquiring an additional 1,250,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Driven Brands by 54.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company's stock valued at $19,141,000 after acquiring an additional 416,744 shares in the last quarter. Finally, Norwood Investment Partners LP purchased a new position in shares of Driven Brands in the first quarter valued at about $15,892,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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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