Driven Brands (NASDAQ:DRVN) Cut to Underweight at Barclays

Barclays downgraded shares of Driven Brands (NASDAQ:DRVN) from an equal weight rating to an underweight rating in a research note published on Wednesday, MarketBeat Ratings reports. The firm currently has $11.00 price objective on the stock, down from their previous price objective of $14.00.

A number of other analysts also recently weighed in on the company. Bank of America initiated coverage on Driven Brands in a research report on Thursday, September 10th. They set an “underperform” rating and a $12.00 target price for the company. UBS Group restated a “buy” rating on shares of Driven Brands in a research report on Thursday, September 10th. Weiss Ratings lowered shares of Driven Brands from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, September 28th. Canaccord Genuity Group lowered shares of Driven Brands from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research note on Tuesday. Finally, Wall Street Zen raised shares of Driven Brands from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Driven Brands presently has an average rating of “Hold” and a consensus price target of $15.48.

Driven Brands Stock Down 1.6%

Shares of NASDAQ DRVN opened at $11.89 on Wednesday. The firm’s 50 day simple moving average is $12.10 and its two-hundred day simple moving average is $13.22. Driven Brands has a one year low of $9.80 and a one year high of $17.30. The stock has a market capitalization of $1.96 billion, a P/E ratio of 11.43, a PEG ratio of 2.17 and a beta of 0.91. 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 issued its earnings results on Monday, July 27th. The company reported $0.29 earnings per share for the quarter. Driven Brands had a return on equity of 24.13% and a net margin of 8.61%. As a group, analysts expect that Driven Brands will post 1.10 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Driven Brands during the 2nd quarter worth $67,107,000. Bank of America Corp DE purchased a new position in shares of Driven Brands during the 2nd quarter valued at $6,110,000. Rangeley Capital LLC bought a new stake in shares of Driven Brands in the 1st quarter valued at approximately $7,888,000. Bank of New York Mellon Corp purchased a new stake in Driven Brands in the second quarter worth about $3,715,000. Finally, Rubric Capital Management LP purchased a new stake in Driven Brands during the 1st quarter worth approximately $37,830,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.