Driven Brands (NASDAQ:DRVN) Stock Rating Lowered by JPMorgan Chase & Co.

Driven Brands (NASDAQ:DRVN) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. They currently have a $12.50 price target on the stock, down from their previous price target of $18.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 7.85% from the company’s current price.

Several other analysts also recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Morgan Stanley downgraded Driven Brands from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $22.00 to $14.00 in a research report on Tuesday, January 16th. Royal Bank of Canada decreased their price objective on Driven Brands from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Finally, Piper Sandler lowered their price objective on shares of Driven Brands from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.94.

Driven Brands Trading Down 0.9 %

NASDAQ:DRVN opened at $11.59 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.73 and a debt-to-equity ratio of 3.21. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -2.49, a PEG ratio of 0.73 and a beta of 1.19. The business’s 50-day moving average price is $14.55 and its two-hundred day moving average price is $13.54. Driven Brands has a 1-year low of $10.59 and a 1-year high of $29.88.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Driven Brands had a positive return on equity of 11.38% and a negative net margin of 33.30%. The business had revenue of $553.70 million during the quarter, compared to the consensus estimate of $572.92 million. During the same period last year, the company earned $0.22 earnings per share. Driven Brands’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts expect that Driven Brands will post 0.88 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Driven Brands by 49.3% in the first quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after purchasing an additional 904 shares during the last quarter. Quent Capital LLC boosted its holdings in Driven Brands by 17.1% in the 4th quarter. Quent Capital LLC now owns 8,921 shares of the company’s stock worth $127,000 after buying an additional 1,304 shares during the period. Swiss National Bank lifted its holdings in Driven Brands by 1.0% in the 3rd quarter. Swiss National Bank now owns 147,300 shares of the company’s stock worth $1,855,000 after purchasing an additional 1,500 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Driven Brands by 126.9% during the fourth quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock valued at $41,000 after buying an additional 1,594 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Driven Brands during the first quarter worth $26,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Company Profile

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.