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

Driven Brands (NASDAQ:DRVNGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research 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 increased their price objective on Driven Brands from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, February 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $40.17.

Shares of NASDAQ DRVN traded down $1.01 during trading hours on Tuesday, reaching $26.04. The stock had a trading volume of 465,365 shares, compared to its average volume of 471,159. The stock has a fifty day moving average price of $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. The company has a market capitalization of $4.36 billion, a P/E ratio of 651.16, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. Driven Brands has a twelve month low of $25.02 and a twelve month high of $34.62.

Driven Brands (NASDAQ:DRVNGet Rating) last issued its earnings results on Wednesday, February 16th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $391.89 million during the quarter, compared to analyst estimates of $352.57 million. Driven Brands had a return on equity of 8.69% and a net margin of 0.66%. Driven Brands’s revenue was up 35.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) earnings per share. Research analysts predict that Driven Brands will post 1.02 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Citigroup Inc. grew its holdings in shares of Driven Brands by 6.9% during the fourth quarter. Citigroup Inc. now owns 5,564 shares of the company’s stock worth $187,000 after purchasing an additional 357 shares during the last quarter. US Bancorp DE boosted its holdings in Driven Brands by 66.4% in the third quarter. US Bancorp DE now owns 987 shares of the company’s stock valued at $28,000 after acquiring an additional 394 shares during the last quarter. Amalgamated Bank boosted its holdings in Driven Brands by 6.8% in the fourth quarter. Amalgamated Bank now owns 9,626 shares of the company’s stock valued at $324,000 after acquiring an additional 615 shares during the last quarter. Loews Corp boosted its holdings in Driven Brands by 14.1% in the third quarter. Loews Corp now owns 7,600 shares of the company’s stock valued at $220,000 after acquiring an additional 939 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Driven Brands by 2.4% in the fourth quarter. Invesco Ltd. now owns 41,519 shares of the company’s stock valued at $1,396,000 after acquiring an additional 988 shares during the last quarter. Institutional investors 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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