Driven Brands (NASDAQ:DRVN) Stock Rating Lowered by Zacks Research

Driven Brands (NASDAQ:DRVN) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their target price on Driven Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. BTIG Research reissued a “buy” rating and issued a $21.00 target price on shares of Driven Brands in a research note on Thursday, January 8th. Piper Sandler decreased their price objective on Driven Brands from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. Benchmark reissued a “buy” rating on shares of Driven Brands in a report on Wednesday, December 3rd. Finally, Stifel Nicolaus set a $23.00 price target on shares of Driven Brands in a report on Monday, November 17th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Driven Brands presently has a consensus rating of “Hold” and a consensus price target of $20.80.

Driven Brands Stock Up 1.6%

Shares of DRVN stock opened at $16.18 on Wednesday. Driven Brands has a 12 month low of $13.44 and a 12 month high of $19.74. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 2.44. The firm has a market cap of $2.66 billion, a PE ratio of -13.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.04. The stock has a 50 day moving average of $14.92 and a 200-day moving average of $16.02.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Tuesday, November 4th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Driven Brands had a negative net margin of 9.14% and a positive return on equity of 25.31%. The business had revenue of $535.68 million for the quarter, compared to analyst estimates of $535.35 million. Driven Brands has set its FY 2025 guidance at 1.230-1.280 EPS. On average, equities analysts predict that Driven Brands will post 0.85 EPS for the current year.

Hedge Funds Weigh In On Driven Brands

Several institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Driven Brands by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock valued at $610,000 after acquiring an additional 1,493 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Driven Brands by 22.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 139,321 shares of the company’s stock worth $2,388,000 after purchasing an additional 25,806 shares during the last quarter. Hennessy Advisors Inc. bought a new position in Driven Brands in the second quarter valued at $10,562,000. Bleakley Financial Group LLC acquired a new stake in Driven Brands in the 2nd quarter valued at $290,000. Finally, AlphaQuest LLC increased its stake in Driven Brands by 64.1% in the 2nd quarter. AlphaQuest LLC now owns 11,246 shares of the company’s stock valued at $197,000 after buying an additional 4,394 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

About Driven Brands

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.