Driven Brands (NASDAQ:DRVN) Downgraded to “Neutral” at JPMorgan Chase & Co.

Driven Brands (NASDAQ:DRVN) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Friday, Marketbeat.com reports. They presently have a $12.50 price target on the stock, down from their prior price target of $18.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 7.85% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Royal Bank of Canada lowered their price target on Driven Brands from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Canaccord Genuity Group raised their target price on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, March 18th. Morgan Stanley downgraded Driven Brands from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $14.00 in a research report on Tuesday, January 16th. Finally, Piper Sandler lowered their price target on shares of Driven Brands from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.94.

Driven Brands Trading Down 0.9 %

Shares of DRVN opened at $11.59 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.73 and a debt-to-equity ratio of 3.21. Driven Brands has a 1-year low of $10.59 and a 1-year high of $29.88. The stock has a market capitalization of $1.90 billion, a P/E ratio of -2.49, a P/E/G ratio of 0.73 and a beta of 1.19. The business’s 50-day moving average price is $14.55 and its 200 day moving average price is $13.54.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $553.70 million for the quarter, compared to the consensus estimate of $572.92 million. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 11.38%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share. Analysts expect that Driven Brands will post 0.88 earnings per share for the current year.

Institutional Investors Weigh In On Driven Brands

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in Driven Brands in the first quarter valued at approximately $26,000. PNC Financial Services Group Inc. raised its holdings in shares of Driven Brands by 877.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,679 shares of the company’s stock worth $34,000 after buying an additional 2,405 shares in the last quarter. GAMMA Investing LLC boosted its stake in Driven Brands by 49.3% in the first quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock valued at $43,000 after buying an additional 904 shares in the last quarter. Lindbrook Capital LLC grew its position in Driven Brands by 126.9% in the fourth quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock valued at $41,000 after acquiring an additional 1,594 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Driven Brands by 579.2% in the fourth quarter. Parallel Advisors LLC now owns 3,437 shares of the company’s stock worth $49,000 after acquiring an additional 2,931 shares during 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.