Driven Brands (NASDAQ:DRVN) Receives Equal Weight Rating from Barclays

Driven Brands (NASDAQ:DRVN)‘s stock had its “equal weight” rating restated by investment analysts at Barclays in a report issued on Tuesday, Benzinga reports. They presently have a $14.00 target price on the stock. Barclays‘s price target would suggest a potential upside of 15.61% from the stock’s current price.

A number of other brokerages also recently weighed in on DRVN. Bank of America initiated coverage on shares of Driven Brands in a report on Thursday, September 10th. They set an “underperform” rating and a $12.00 price target for the company. Morgan Stanley set a $14.00 target price on Driven Brands in a research note on Friday, August 7th. Weiss Ratings upgraded Driven Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 25th. Wall Street Zen cut Driven Brands from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Benchmark restated a “buy” rating on shares of Driven Brands in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.23.

Driven Brands Price Performance

Shares of Driven Brands stock opened at $12.11 on Tuesday. 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 stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 2.12 and a beta of 0.94. Driven Brands has a twelve month low of $9.80 and a twelve month high of $17.30. The company has a 50-day simple moving average of $13.41 and a two-hundred day simple moving average of $13.07.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Monday, July 27th. The company reported $0.29 earnings per share for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. Analysts forecast that Driven Brands will post 1.12 EPS for the current year.

Hedge Funds Weigh In On Driven Brands

A number of hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC grew its stake in Driven Brands by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 10,917 shares of the company’s stock worth $162,000 after acquiring an additional 701 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Driven Brands by 1,347.7% during the fourth quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock worth $57,000 after purchasing an additional 3,558 shares during the last quarter. SJS Investment Consulting Inc. grew its position in shares of Driven Brands by 420.2% in the first quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock valued at $57,000 after purchasing an additional 3,635 shares during the period. Janus Henderson Group PLC grew its position in shares of Driven Brands by 0.3% in the first quarter. Janus Henderson Group PLC now owns 2,484,305 shares of the company’s stock valued at $31,327,000 after purchasing an additional 7,126 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in Driven Brands by 3,373.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,975 shares of the company’s stock valued at $163,000 after purchasing an additional 10,659 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

About Driven Brands

Driven Brands Holdings Inc is an automotive services company that operates and franchises a network of businesses serving vehicle owners and commercial customers. Its services include routine vehicle maintenance, oil changes, automotive repair, collision repair, paint and glass services, and car washing.

The company’s portfolio includes brands such as Take 5 Oil Change, Meineke Car Care Centers, MAACO, CARSTAR, and Fix Auto. Through these brands, Driven Brands provides services ranging from preventative maintenance and mechanical repairs to bodywork, paint repair, windshield replacement, and vehicle appearance care.