Driven Brands (NASDAQ:DRVN) Research Coverage Started at Barclays

Barclays began coverage on shares of Driven Brands (NASDAQ:DRVN) in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $14.00 target price on the stock.

Several other equities analysts also recently issued reports on DRVN. Bank of America assumed coverage on shares of Driven Brands in a research note on Thursday, September 10th. They set an “underperform” rating and a $12.00 price target for the company. Canaccord Genuity Group boosted their price objective on shares of Driven Brands from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Benchmark restated a “buy” rating on shares of Driven Brands in a report on Tuesday, May 26th. Weiss Ratings raised Driven Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 25th. Finally, Morgan Stanley set a $14.00 target price on Driven Brands in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.23.

Driven Brands Stock Performance

NASDAQ:DRVN opened at $12.04 on Tuesday. The stock’s 50-day moving average is $13.22 and its 200-day moving average is $13.10. Driven Brands has a 1-year low of $9.80 and a 1-year high of $17.30. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 1.99. The stock has a market cap of $1.99 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 2.12 and a beta of 0.94.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data 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 research analysts anticipate that Driven Brands will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On Driven Brands

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Driven Brands in the 2nd quarter valued at about $67,107,000. North Peak Capital Management LLC grew its stake in Driven Brands by 37.3% during 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. Rangeley Capital LLC acquired a new stake in Driven Brands during the first quarter worth approximately $7,888,000. Rubric Capital Management LP bought a new stake in Driven Brands in the first quarter worth approximately $37,830,000. Finally, Bank of New York Mellon Corp bought a new stake in Driven Brands in the second quarter worth approximately $3,715,000. 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 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.