Driven Brands (NASDAQ:DRVN) Trading Down 5.7%

Driven Brands Holdings Inc. (NASDAQ:DRVN)’s stock price traded down 5.7% on Wednesday . The company traded as low as $14.17 and last traded at $14.19. 630,892 shares were traded during mid-day trading, a decline of 41% from the average session volume of 1,073,593 shares. The stock had previously closed at $15.05.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Canaccord Genuity Group boosted their target price on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Morgan Stanley lowered shares of Driven Brands from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $22.00 to $14.00 in a research report on Tuesday, January 16th. Royal Bank of Canada reduced their price target on shares of Driven Brands from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, February 26th. JPMorgan Chase & Co. reduced their target price on shares of Driven Brands from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Finally, Piper Sandler reduced their target price on shares of Driven Brands from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.89.

Driven Brands Stock Down 5.3 %

The company has a current ratio of 1.92, a quick ratio of 1.73 and a debt-to-equity ratio of 3.21. The firm has a market capitalization of $2.34 billion, a P/E ratio of -3.14, a P/E/G ratio of 0.89 and a beta of 1.18. The company has a 50 day simple moving average of $14.57 and a two-hundred day simple moving average of $13.44.

Driven Brands (NASDAQ:DRVN) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $572.92 million. Driven Brands had a positive return on equity of 11.00% and a negative net margin of 32.33%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. On average, equities analysts predict that Driven Brands Holdings Inc. will post 0.89 EPS for the current fiscal year.

Institutional Trading of Driven Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norden Group LLC purchased a new position in shares of Driven Brands during the first quarter valued at $182,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Driven Brands during the first quarter valued at $26,000. Wedmont Private Capital purchased a new position in shares of Driven Brands during the first quarter valued at $159,000. GAMMA Investing LLC increased its stake in shares of Driven Brands by 49.3% during 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 during the period. Finally, Grizzlyrock Capital LLC purchased a new position in shares of Driven Brands during the fourth quarter valued at $2,311,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

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.