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.

DRVN has been the topic of several other reports. BTIG Research initiated coverage on shares of Driven Brands in a research note on Monday, June 30th. They set a "buy" rating and a $22.00 price target on the stock. Robert W. Baird set a $25.00 price target on shares of Driven Brands in a research note on Thursday, March 13th. Benchmark assumed 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. Canaccord Genuity Group lifted their price target on Driven Brands from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group initiated coverage on Driven Brands in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $20.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Driven Brands Trading Up 0.9%

DRVN traded up $0.16 on Friday, hitting $18.06. The company had a trading volume of 330,051 shares, compared to its average volume of 690,414. The firm has a market cap of $2.97 billion, a P/E ratio of 18.63, a PEG ratio of 1.03 and a beta of 1.09. Driven Brands has a 1 year low of $12.34 and a 1 year high of $18.72. The company's fifty day moving average price is $17.59 and its 200 day moving average price is $16.72. 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 posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. Driven Brands had a negative net margin of 12.75% and a positive return on equity of 19.61%. The business had revenue of $516.16 million during the quarter, compared to the consensus estimate of $492.19 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts expect that Driven Brands will post 0.85 earnings per share for the current year.

Institutional Trading of Driven Brands

Institutional investors have recently bought and sold shares of the company. North Peak Capital Management LLC raised its stake in shares of Driven Brands by 8.6% during the 4th quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company's stock worth $92,905,000 after buying an additional 457,217 shares during the last quarter. Vanguard Group Inc. increased its holdings in Driven Brands by 0.6% during the 4th 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 increased its holdings in Driven Brands by 35.7% during the 4th 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 raised its position in Driven Brands by 54.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company's stock worth $19,141,000 after acquiring an additional 416,744 shares during the last quarter. Finally, Norwood Investment Partners LP acquired a new position in Driven Brands during the first quarter worth 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.