Driven Brands (NASDAQ:DRVN) Trading Down 5.7%

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DRVN. Canaccord Genuity Group lifted their price target on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. dropped their target price on shares of Driven Brands from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Royal Bank of Canada dropped their target price 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. Piper Sandler dropped their target price on shares of Driven Brands from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 26th. Finally, Morgan Stanley downgraded shares of Driven Brands from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $14.00 in a research report on Tuesday, January 16th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Driven Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

Driven Brands Price Performance

The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.73 and a current ratio of 1.92. The business’s 50 day simple moving average is $14.61 and its 200-day simple moving average is $13.47. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -3.18, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $553.70 million during the quarter, compared to analyst estimates of $572.92 million. Driven Brands had a negative net margin of 32.33% and a positive return on equity of 11.00%. Driven Brands’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 EPS. Research analysts anticipate that Driven Brands Holdings Inc. will post 0.89 earnings per share for the current year.

Institutional Trading of Driven Brands

A number of institutional investors have recently made changes to their positions in DRVN. GAMMA Investing LLC raised its holdings 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 acquiring an additional 904 shares during the period. Quent Capital LLC raised its holdings in shares of Driven Brands by 17.1% during the fourth quarter. Quent Capital LLC now owns 8,921 shares of the company’s stock valued at $127,000 after acquiring an additional 1,304 shares during the period. Swiss National Bank grew its position in Driven Brands by 1.0% during the third quarter. Swiss National Bank now owns 147,300 shares of the company’s stock valued at $1,855,000 after purchasing an additional 1,500 shares in the last quarter. Lindbrook Capital LLC grew its position in Driven Brands by 126.9% during the fourth quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock valued at $41,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Driven Brands during the first quarter valued at approximately $26,000. 77.08% of the stock is owned by institutional investors and hedge funds.

About Driven Brands

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.