Driven Brands (NASDAQ:DRVN) Stock Lifted to Buy by Wall Street Zen

Wall Street Zen upgraded shares of Driven Brands (NASDAQ:DRVN) from a hold rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

DRVN has been the topic of several other reports. 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 on the stock. Weiss Ratings cut shares of Driven Brands from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, September 28th. Barclays initiated coverage on shares of Driven Brands in a report on Tuesday, September 22nd. They set an “equal weight” rating and a $14.00 target price on the stock. Morgan Stanley set a $14.00 target price on shares of Driven Brands in a report on Friday, August 7th. Finally, Canaccord Genuity Group lifted their target price on shares of Driven Brands from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.23.

Driven Brands Stock Performance

Shares of NASDAQ DRVN opened at $11.74 on Friday. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 2.00 and a beta of 0.96. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 1.99. Driven Brands has a 1-year low of $9.80 and a 1-year high of $17.30. The stock’s 50-day moving average is $12.32 and its 200 day moving average is $13.14.

Driven Brands (NASDAQ:DRVN) last released 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%. On average, sell-side analysts anticipate that Driven Brands will post 1.13 EPS for the current fiscal year.

Institutional Trading of Driven Brands

A number of institutional investors have recently made changes to their positions in DRVN. BlackRock Inc. purchased a new stake in Driven Brands during the 2nd quarter valued at $67,107,000. Bamco Inc. NY purchased a new position in shares of Driven Brands during the second quarter valued at approximately $62,766,000. Rubric Capital Management LP purchased a new position in shares of Driven Brands during the first quarter valued at approximately $37,830,000. Jupiter Topco LLC purchased a new position in shares of Driven Brands during the second quarter valued at approximately $35,214,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Driven Brands by 0.3% during the first quarter. Janus Henderson Group PLC now owns 2,484,305 shares of the company’s stock valued at $31,327,000 after acquiring an additional 7,126 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

About Driven Brands

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.