Driven Brands (NASDAQ:DRVN) Lifted to “Hold” at Zacks Investment Research

Timothy

Driven Brands (NASDAQ:DRVNGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Driven Brands Holdings Inc. is an automotive services company principally in North America. It provides consumer and commercial automotive needs, including paint, collision, glass, vehicle repair, oil change, maintenance and car wash. Driven Brands Holdings Inc. is headquartered in Charlotte, NC. “

Separately, Morgan Stanley upped their price objective on shares of Driven Brands from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, February 18th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Driven Brands has an average rating of “Buy” and an average target price of $40.17.

Driven Brands stock traded down $1.01 during mid-day trading on Tuesday, reaching $26.04. The company’s stock had a trading volume of 465,365 shares, compared to its average volume of 471,159. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 651.16, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. The firm’s 50 day moving average is $27.36. The company has a current ratio of 1.64, a quick ratio of 1.54 and a debt-to-equity ratio of 1.43. Driven Brands has a twelve month low of $25.02 and a twelve month high of $34.62.

Driven Brands (NASDAQ:DRVNGet Rating) last announced its quarterly earnings results on Wednesday, February 16th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. Driven Brands had a net margin of 0.66% and a return on equity of 8.69%. The company had revenue of $391.89 million during the quarter, compared to the consensus estimate of $352.57 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 35.8% compared to the same quarter last year. As a group, research analysts expect that Driven Brands will post 1.02 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in DRVN. US Bancorp DE grew its stake in shares of Driven Brands by 66.4% in the 3rd quarter. US Bancorp DE now owns 987 shares of the company’s stock valued at $28,000 after buying an additional 394 shares in the last quarter. Metropolitan Life Insurance Co NY bought a new stake in shares of Driven Brands in the 4th quarter valued at approximately $36,000. Point72 Hong Kong Ltd bought a new stake in shares of Driven Brands in the 3rd quarter valued at approximately $73,000. Royal Bank of Canada grew its stake in shares of Driven Brands by 1,480.0% in the 2nd quarter. Royal Bank of Canada now owns 2,923 shares of the company’s stock valued at $91,000 after buying an additional 2,738 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Driven Brands in the 3rd quarter valued at approximately $105,000. 73.70% of the stock is owned by institutional investors and hedge funds.

About Driven Brands (Get Rating)

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. The company offers various services, such as paint, collision, glass, vehicle repair, car wash, oil change, and maintenance services.

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