Driven Brands (NASDAQ:DRVN) Cut to Neutral at BTIG Research

Driven Brands (NASDAQ:DRVN) was downgraded by BTIG Research from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, Briefing.com reports.

DRVN has been the subject of several other research reports. Weiss Ratings downgraded Driven Brands from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, September 28th. UBS Group reissued a “buy” rating on shares of Driven Brands in a research note on Thursday, September 10th. Morgan Stanley set a $14.00 target price on shares of Driven Brands in a report on Friday, August 7th. Canaccord Genuity Group cut shares of Driven Brands from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research report on Tuesday. Finally, Royal Bank Of Canada reduced their price target on shares of Driven Brands from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Driven Brands has an average rating of “Hold” and a consensus target price of $15.48.

Driven Brands Stock Performance

NASDAQ DRVN opened at $11.28 on Wednesday. The business has a 50 day moving average price of $12.16 and a 200 day moving average price of $13.27. The company has a market capitalization of $1.86 billion, a P/E ratio of 10.85, a PEG ratio of 2.17 and a beta of 0.91. Driven Brands has a 1-year low of $9.80 and a 1-year high of $17.30. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.47 and a quick ratio of 1.33.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Monday, July 27th. The company reported $0.29 EPS for the quarter. Driven Brands had a return on equity of 24.13% and a net margin of 8.61%. Sell-side analysts expect that Driven Brands will post 1.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Driven Brands

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Driven Brands in the second quarter valued at $67,107,000. Bamco Inc. NY purchased a new stake in Driven Brands during the 2nd quarter worth about $62,766,000. Rubric Capital Management LP acquired a new position in Driven Brands in the 1st quarter valued at about $37,830,000. Jupiter Topco LLC acquired a new position in Driven Brands in the 2nd quarter valued at about $35,214,000. Finally, Janus Henderson Group PLC raised its stake in Driven Brands by 0.3% in the 1st 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 last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Company Profile

Driven Brands Holdings Inc is an automotive services company that provides vehicle maintenance, repair, collision services and related products through a portfolio of franchised and company-operated brands. Its businesses serve both individual vehicle owners and commercial customers across a range of automotive aftermarket needs.

The company’s brands include Take 5 Oil Change, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C and Auto Glass Now. These brands provide services such as oil changes, routine maintenance, mechanical repair, paint and collision repair, replacement parts distribution and windshield repair and replacement.

Driven Brands was founded in 1972 and is headquartered in Charlotte, North Carolina.