Driven Brands (NASDAQ:DRVN) Upgraded to “Strong-Buy” by Baird R W

Baird R W upgraded shares of Driven Brands (NASDAQ:DRVN) to a strong-buy rating in a report published on Friday morning, Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada upped their price objective on shares of Driven Brands from $14.00 to $16.00 and gave the company an outperform rating in a report on Friday. The Goldman Sachs Group increased their price target on shares of Driven Brands from $14.00 to $16.00 and gave the company a neutral rating in a report on Friday. Robert W. Baird raised their price objective on shares of Driven Brands from $17.00 to $18.00 and gave the stock an outperform rating in a research report on Friday. JPMorgan Chase & Co. downgraded Driven Brands from an overweight rating to a neutral rating and decreased their target price for the company from $18.00 to $12.50 in a research report on Friday, May 3rd. Finally, BMO Capital Markets assumed coverage on Driven Brands in a report on Monday, July 22nd. They set a market perform rating and a $14.00 price target for the company. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $17.75.

Driven Brands Stock Up 0.7 %

Shares of NASDAQ:DRVN traded up $0.09 during trading on Friday, hitting $13.39. 1,030,395 shares of the company were exchanged, compared to its average volume of 1,287,737. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -2.85, a P/E/G ratio of 0.85 and a beta of 1.12. Driven Brands has a fifty-two week low of $10.59 and a fifty-two week high of $16.14. The firm has a fifty day moving average price of $12.40 and a two-hundred day moving average price of $13.22. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 3.20.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.07. The firm had revenue of $611.60 million for the quarter, compared to analyst estimates of $628.34 million. Driven Brands had a positive return on equity of 15.31% and a negative net margin of 33.56%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS. As a group, research analysts anticipate that Driven Brands will post 0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in Driven Brands during the first quarter worth $26,000. Lindbrook Capital LLC lifted its stake in Driven Brands by 126.9% during the fourth quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock worth $41,000 after purchasing an additional 1,594 shares during the last quarter. GAMMA Investing LLC lifted its stake in Driven Brands by 49.3% during the first quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after purchasing an additional 904 shares during the last quarter. Parallel Advisors LLC lifted its stake in Driven Brands by 579.2% during the fourth quarter. Parallel Advisors LLC now owns 3,437 shares of the company’s stock worth $49,000 after purchasing an additional 2,931 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in Driven Brands during the second quarter worth $86,000. 77.08% of the stock is currently owned by institutional investors.

Driven Brands Company Profile

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.