Driven Brands (NASDAQ:DRVN) Upgraded by Wall Street Zen to "Buy" Rating

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 report issued to clients and investors on Saturday.

A number of other equities research analysts have also recently issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of Driven Brands from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Robert W. Baird set a $25.00 price target on shares of Driven Brands in a research note on Thursday, March 13th. The Goldman Sachs Group initiated coverage on shares of Driven Brands in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $20.00 price target on the stock. BTIG Research initiated coverage on shares of Driven Brands in a research note on Monday, June 30th. They issued a "buy" rating and a $22.00 price target on the stock. Finally, Benchmark assumed coverage on shares of Driven Brands in a research note on Friday, April 4th. They issued a "buy" rating and a $22.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $21.00.

Driven Brands Stock Performance

Shares of NASDAQ DRVN traded up $0.16 during midday trading on Friday, reaching $18.06. 330,051 shares of the stock were exchanged, compared to its average volume of 690,699. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -9.98, a PEG ratio of 1.03 and a beta of 1.09. Driven Brands has a twelve month low of $12.34 and a twelve month high of $18.72. The firm has a 50-day simple moving average of $17.59 and a two-hundred day simple moving average of $16.72. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 4.07.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $516.16 million for the quarter, compared to analysts' expectations of $492.19 million. During the same quarter last year, the company earned $0.23 EPS. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that Driven Brands will post 0.85 EPS for the current fiscal year.

Institutional Trading of Driven Brands

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Driven Brands by 3.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,104 shares of the company's stock valued at $550,000 after acquiring an additional 1,079 shares in the last quarter. MetLife Investment Management LLC grew its position in Driven Brands by 5.7% in the 4th quarter. MetLife Investment Management LLC now owns 37,161 shares of the company's stock valued at $600,000 after acquiring an additional 2,003 shares in the last quarter. Vident Advisory LLC grew its position in Driven Brands by 14.6% in the 1st quarter. Vident Advisory LLC now owns 19,146 shares of the company's stock valued at $328,000 after acquiring an additional 2,435 shares in the last quarter. SG Americas Securities LLC grew its position in Driven Brands by 25.3% in the 1st quarter. SG Americas Securities LLC now owns 17,194 shares of the company's stock valued at $295,000 after acquiring an additional 3,474 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Driven Brands by 5.5% in the 4th quarter. Legal & General Group Plc now owns 73,791 shares of the company's stock valued at $1,191,000 after acquiring an additional 3,833 shares in the last quarter. 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.