Driven Brands (NASDAQ:DRVN) Downgraded by Zacks Investment Research


Driven Brands (NASDAQ:DRVNGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, 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 increased their price target 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 investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $40.17.

Shares of DRVN stock traded up $0.45 during trading hours on Wednesday, hitting $27.28. The company’s stock had a trading volume of 271,399 shares, compared to its average volume of 475,378. The company has a 50 day moving average of $27.56 and a 200 day moving average of $29.76. The stock has a market cap of $4.57 billion, a PE ratio of 682.17, a price-to-earnings-growth ratio of 1.82 and a beta of 1.13. 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 12-month low of $24.79 and a 12-month high of $34.62.

Driven Brands (NASDAQ:DRVNGet Rating) last released its quarterly earnings data on Wednesday, February 16th. The company reported $0.18 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 business had revenue of $391.89 million for the quarter, compared to the consensus estimate of $352.57 million. During the same period in the prior year, the firm earned ($0.06) EPS. The business’s revenue for the quarter was up 35.8% on a year-over-year basis. As a group, analysts anticipate that Driven Brands will post 1.02 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of DRVN. Bain Capital Public Equity Management II LLC grew its holdings in shares of Driven Brands by 63.2% in the third quarter. Bain Capital Public Equity Management II LLC now owns 3,745,089 shares of the company’s stock valued at $108,196,000 after purchasing an additional 1,450,954 shares during the period. Natixis purchased a new stake in shares of Driven Brands in the third quarter valued at about $1,421,000. Point72 Asset Management L.P. grew its holdings in shares of Driven Brands by 58.8% in the third quarter. Point72 Asset Management L.P. now owns 545,400 shares of the company’s stock valued at $15,757,000 after purchasing an additional 201,900 shares during the period. Capital World Investors grew its holdings in shares of Driven Brands by 18.6% in the third quarter. Capital World Investors now owns 1,430,000 shares of the company’s stock valued at $41,313,000 after purchasing an additional 224,200 shares during the period. Finally, Wesbanco Bank Inc. grew its holdings in shares of Driven Brands by 29.2% in the fourth quarter. Wesbanco Bank Inc. now owns 29,630 shares of the company’s stock valued at $996,000 after purchasing an additional 6,700 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

Driven Brands Company Profile (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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