Driven Brands (NASDAQ:DRVN) Upgraded at Zacks Research

Zacks Research upgraded shares of Driven Brands (NASDAQ:DRVN) from a strong sell rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Driven Brands in a research report on Monday, December 29th. Wall Street Zen cut Driven Brands from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Morgan Stanley reduced their price objective on Driven Brands from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Piper Sandler cut Driven Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $12.00 in a report on Wednesday, February 25th. Finally, William Blair upgraded Driven Brands from a “market perform” rating to an “outperform” rating in a research report on Wednesday, December 3rd. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Driven Brands has a consensus rating of “Hold” and an average price target of $20.00.

Driven Brands Stock Performance

Shares of DRVN opened at $10.75 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 2.44. The stock has a market cap of $1.77 billion, a P/E ratio of -8.67 and a beta of 1.09. The business’s 50 day moving average price is $14.27 and its 200-day moving average price is $15.03. Driven Brands has a 52 week low of $9.80 and a 52 week high of $19.74.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Monday, March 23rd. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. Driven Brands had a negative net margin of 9.14% and a positive return on equity of 25.31%. The business had revenue of $457.33 million for the quarter, compared to analysts’ expectations of $459.50 million. During the same quarter in the previous year, the company earned $0.30 EPS. Equities research analysts anticipate that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Insider Activity at Driven Brands

In related news, insider Scott L. O’melia sold 46,875 shares of Driven Brands stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $16.00, for a total value of $750,000.00. Following the completion of the transaction, the insider owned 326,944 shares in the company, valued at approximately $5,231,104. This trade represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Driven Brands

Several institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC increased its stake in shares of Driven Brands by 0.3% during the second quarter. Lazard Asset Management LLC now owns 216,423 shares of the company’s stock valued at $3,800,000 after buying an additional 682 shares during the period. ProShare Advisors LLC lifted its stake in Driven Brands by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 10,917 shares of the company’s stock worth $162,000 after acquiring an additional 701 shares during the period. Handelsbanken Fonder AB grew its holdings in Driven Brands by 2.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 30,900 shares of the company’s stock worth $543,000 after acquiring an additional 800 shares in the last quarter. Mariner LLC grew its holdings in Driven Brands by 1.1% during the 4th quarter. Mariner LLC now owns 71,736 shares of the company’s stock worth $1,063,000 after acquiring an additional 812 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in Driven Brands by 82.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after purchasing an additional 941 shares during the period. 77.08% of the stock is owned by institutional investors.

Trending Headlines about Driven Brands

Here are the key news stories impacting Driven Brands this week:

• Positive Sentiment: Proposed class-action settlement announced by lead counsel, which may cap some litigation risk and was a likely catalyst for buying interest today. Proposed Settlement Announcement
• Neutral Sentiment: Reported short-interest data appears to show zero reported short shares (likely a data error or reporting lag); days-to-cover reported as 0.0 — this is not meaningful evidence of a large short-squeeze. (Internal reporting entries dated 3/19–3/20.)
• Negative Sentiment: Multiple securities class actions and investor-alerts filed or announced by law firms (Hagens Berman, Rosen, Kessler Topaz, BFA, Bernstein Liebhard, Pomerantz, etc.) alleging pervasive accounting errors and internal control failures covering fiscal years 2023–2025 after the company said its financials can no longer be relied upon. This wave of litigation follows a reported ~39% stock drop tied to the disclosure and creates ongoing legal, financial restatement, and reputational risk. Hagens Berman Notice BFA/BusinessWire Notice

About Driven Brands

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.