Driven Brands (NASDAQ:DRVN) Upgraded by Baird R W to “Strong-Buy”

Baird R W upgraded shares of Driven Brands (NASDAQ:DRVN) to a strong-buy rating in a research report report published on Friday morning, Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Robert W. Baird boosted their price target on Driven Brands from $17.00 to $18.00 and gave the stock an outperform rating in a research note on Friday. Royal Bank of Canada raised their target price on Driven Brands from $14.00 to $16.00 and gave the stock an outperform rating in a research report on Friday. JPMorgan Chase & Co. cut 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 research note on Friday, May 3rd. Piper Sandler reiterated an overweight rating and issued a $17.00 target price (up from $14.00) on shares of Driven Brands in a report on Friday. Finally, BMO Capital Markets initiated coverage on shares of Driven Brands in a report on Monday, July 22nd. They issued a market perform rating and a $14.00 price target for the company. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $17.75.

Driven Brands Stock Up 0.7 %

Shares of DRVN traded up $0.09 during mid-day trading on Friday, hitting $13.39. 1,030,395 shares of the company traded hands, compared to its average volume of 1,287,737. The business has a 50 day moving average of $12.40 and a 200 day moving average of $13.22. The company has a market capitalization of $2.20 billion, a PE ratio of -2.85, a price-to-earnings-growth ratio of 0.85 and a beta of 1.12. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 3.20. Driven Brands has a 1-year low of $10.59 and a 1-year high of $16.14.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Thursday, August 1st. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. The company had revenue of $611.60 million for the quarter, compared to analysts’ expectations of $628.34 million. Driven Brands had a negative net margin of 33.56% and a positive return on equity of 15.31%. Driven Brands’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. Equities research analysts anticipate that Driven Brands will post 0.87 EPS for the current year.

Hedge Funds Weigh In On Driven Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Driven Brands by 56.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,222 shares of the company’s stock valued at $231,000 after buying an additional 5,831 shares during the period. Kestrel Investment Management Corp purchased a new position in shares of Driven Brands in the fourth quarter worth approximately $3,067,000. Lindbrook Capital LLC raised its stake in shares of Driven Brands by 126.9% in the fourth quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock worth $41,000 after buying an additional 1,594 shares during the period. Signaturefd LLC lifted its holdings in Driven Brands by 63.8% in the 4th quarter. Signaturefd LLC now owns 11,281 shares of the company’s stock worth $161,000 after purchasing an additional 4,394 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Driven Brands by 16.8% in the fourth quarter. CWM LLC now owns 15,486 shares of the company’s stock worth $221,000 after buying an additional 2,226 shares in the last quarter. Institutional investors 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.