Driven Brands (NASDAQ:DRVN) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Driven Brands (NASDAQ:DRVN) from a buy rating to a hold rating in a report released on Saturday morning.

A number of other research firms have also weighed in on DRVN. Weiss Ratings upgraded shares of Driven Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. BMO Capital Markets dropped their target price on Driven Brands from $18.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, May 21st. Morgan Stanley set a $14.00 price target on Driven Brands in a report on Friday. Canaccord Genuity Group set a $17.00 price target on Driven Brands in a research report on Friday. Finally, Royal Bank Of Canada decreased their price objective on Driven Brands from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Driven Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.77.

Driven Brands Price Performance

Shares of NASDAQ:DRVN opened at $12.53 on Friday. The firm has a market capitalization of $2.07 billion, a PE ratio of 12.05 and a beta of 0.95. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 1.99. The company has a 50-day moving average price of $13.99 and a two-hundred day moving average price of $13.67. Driven Brands has a twelve month low of $9.80 and a twelve month high of $19.74.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Monday, July 27th. The company reported $0.29 earnings per share (EPS) for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. Equities analysts forecast that Driven Brands will post 1.08 EPS for the current year.

Institutional Trading of Driven Brands

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Driven Brands in the 2nd quarter valued at $67,107,000. Boston Partners grew its position in shares of Driven Brands by 1,301.0% during the 4th quarter. Boston Partners now owns 3,426,388 shares of the company’s stock valued at $50,783,000 after purchasing an additional 3,181,812 shares in the last quarter. Rubric Capital Management LP bought a new position in shares of Driven Brands in the first quarter worth $37,830,000. North Peak Capital Management LLC increased its holdings in shares of Driven Brands by 37.3% in the fourth quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company’s stock worth $59,144,000 after purchasing an additional 1,083,896 shares during the period. Finally, Conversant Capital LLC bought a new position in shares of Driven Brands in the first quarter worth $12,610,000. Institutional investors own 77.08% of the company’s stock.

Driven Brands Company Profile

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.