Driven Brands (NASDAQ:DRVN) Stock Rating Upgraded by Baird R W

Driven Brands (NASDAQ:DRVN) was upgraded by analysts at Baird R W to a “strong-buy” rating in a report issued on Friday, Zacks.com reports.

DRVN has been the topic of a number of other research reports. Canaccord Genuity Group decreased their target price on shares of Driven Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. The Goldman Sachs Group raised their target price on shares of Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays decreased their target price on shares of Driven Brands from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. JPMorgan Chase & Co. lowered shares of Driven Brands from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $12.50 in a report on Friday, May 3rd. Finally, Robert W. Baird lifted their price target on shares of Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.75.

Driven Brands Price Performance

Shares of DRVN traded up $0.09 during mid-day trading on Friday, reaching $13.39. 1,030,395 shares of the company’s stock were exchanged, compared to its average volume of 1,287,737. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 3.20. The company has a 50-day simple moving average of $12.40 and a two-hundred day simple moving average of $13.22. Driven Brands has a 52-week low of $10.59 and a 52-week high of $16.14. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -2.85, a PEG ratio of 0.85 and a beta of 1.12.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. Driven Brands had a negative net margin of 33.56% and a positive return on equity of 15.31%. The firm had revenue of $611.60 million for the quarter, compared to analyst estimates of $628.34 million. During the same quarter last year, the business earned $0.27 earnings per share. Driven Brands’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts predict that Driven Brands will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Driven Brands during the 1st quarter valued at approximately $26,000. Lindbrook Capital LLC grew its stake in Driven Brands by 126.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock valued at $41,000 after purchasing an additional 1,594 shares in the last quarter. GAMMA Investing LLC grew its stake in Driven Brands by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock valued at $43,000 after purchasing an additional 904 shares in the last quarter. Parallel Advisors LLC grew its stake in Driven Brands by 579.2% during the 4th quarter. Parallel Advisors LLC now owns 3,437 shares of the company’s stock valued at $49,000 after purchasing an additional 2,931 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Driven Brands during the 2nd quarter valued at approximately $86,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

About Driven Brands

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.