Driven Brands (NASDAQ:DRVN) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Driven Brands (NASDAQ:DRVN) from a hold rating to a strong sell rating in a research note released on Wednesday morning,Zacks.com reports.

DRVN has been the subject of a number of other reports. William Blair raised Driven Brands from a “market perform” rating to an “outperform” rating in a research note on Wednesday, December 3rd. BTIG Research reissued a “buy” rating and set a $21.00 price target on shares of Driven Brands in a research report on Thursday, January 8th. Stifel Nicolaus set a $23.00 price objective on shares of Driven Brands in a report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Driven Brands in a research note on Monday, December 29th. Finally, Benchmark reiterated a “buy” rating on shares of Driven Brands in a report on Wednesday, December 3rd. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.80.

Driven Brands Stock Up 0.1%

Shares of NASDAQ DRVN opened at $16.19 on Wednesday. The stock has a market cap of $2.66 billion, a PE ratio of -13.06, a P/E/G ratio of 1.14 and a beta of 1.04. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 2.44. Driven Brands has a 12-month low of $13.44 and a 12-month high of $19.74. The company has a 50-day moving average of $14.97 and a 200 day moving average of $16.01.

Driven Brands (NASDAQ:DRVN) last issued its earnings results on Tuesday, November 4th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. The business had revenue of $535.68 million for the quarter, compared to analysts’ expectations of $535.35 million. Driven Brands had a positive return on equity of 25.31% and a negative net margin of 9.14%.Driven Brands has set its FY 2025 guidance at 1.230-1.280 EPS. As a group, sell-side analysts predict that Driven Brands will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling at Driven Brands

In related news, insider Scott L. O’melia sold 46,875 shares of Driven Brands stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $16.00, for a total value of $750,000.00. Following the completion of the sale, the insider owned 326,944 shares in the company, valued at approximately $5,231,104. This trade represents a 12.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Driven Brands by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock valued at $610,000 after buying an additional 1,493 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Driven Brands by 22.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 139,321 shares of the company’s stock valued at $2,388,000 after acquiring an additional 25,806 shares during the period. Hennessy Advisors Inc. acquired a new position in Driven Brands in the 2nd quarter valued at about $10,562,000. Bleakley Financial Group LLC acquired a new position in Driven Brands in the 2nd quarter valued at about $290,000. Finally, AlphaQuest LLC increased its stake in Driven Brands by 64.1% during the second quarter. AlphaQuest LLC now owns 11,246 shares of the company’s stock worth $197,000 after purchasing an additional 4,394 shares during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Driven Brands Company Profile

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.