Driven Brands (NASDAQ:DRVN) Stock Rating Lowered by Barclays

Driven Brands (NASDAQ:DRVN) was downgraded by equities research analysts at Barclays from an “equal weight” rating to an “underweight” rating in a report issued on Wednesday, Briefing.com reports. They presently have a $11.00 target price on the stock. Barclays‘s price objective would indicate a potential downside of 2.48% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Driven Brands from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, September 28th. Morgan Stanley set a $14.00 price objective on shares of Driven Brands in a report on Friday, August 7th. Wall Street Zen upgraded shares of Driven Brands from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Canaccord Genuity Group lowered shares of Driven Brands from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research note on Tuesday. Finally, Royal Bank Of Canada decreased their target price on shares of Driven Brands from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Driven Brands currently has an average rating of “Hold” and a consensus target price of $15.48.

Driven Brands Trading Down 11.3%

Shares of NASDAQ DRVN opened at $11.28 on Wednesday. Driven Brands has a 12-month low of $9.80 and a 12-month high of $17.30. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 2.17 and a beta of 0.91. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 1.99. The stock’s 50 day simple moving average is $12.16 and its 200 day simple moving average is $13.27.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Monday, July 27th. The company reported $0.29 EPS for the quarter. Driven Brands had a return on equity of 24.13% and a net margin of 8.61%. Equities research analysts expect that Driven Brands will post 1.13 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DRVN. Bfsg LLC raised its stake in shares of Driven Brands by 22.2% during the third quarter. Bfsg LLC now owns 10,094 shares of the company’s stock valued at $119,000 after purchasing an additional 1,835 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its holdings in Driven Brands by 5.1% in the third quarter. ZWJ Investment Counsel Inc. now owns 33,512 shares of the company’s stock worth $396,000 after purchasing an additional 1,616 shares during the period. Engineers Gate Manager LP acquired a new stake in Driven Brands in the second quarter worth about $310,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Driven Brands by 13.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,213 shares of the company’s stock valued at $1,996,000 after buying an additional 16,903 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in Driven Brands by 53.7% in the 2nd quarter. Hsbc Holdings PLC now owns 50,819 shares of the company’s stock valued at $696,000 after buying an additional 17,745 shares in the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

About Driven Brands

Driven Brands Holdings Inc is an automotive services company that provides vehicle maintenance, repair, collision services and related products through a portfolio of franchised and company-operated brands. Its businesses serve both individual vehicle owners and commercial customers across a range of automotive aftermarket needs.

The company’s brands include Take 5 Oil Change, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C and Auto Glass Now. These brands provide services such as oil changes, routine maintenance, mechanical repair, paint and collision repair, replacement parts distribution and windshield repair and replacement.

Driven Brands was founded in 1972 and is headquartered in Charlotte, North Carolina.