Driven Brands (NASDAQ:DRVN) Trading Down 5.7%

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

Wall Street Analysts Forecast Growth

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

Driven Brands Price Performance

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 company’s fifty day moving average is $14.61 and its two-hundred day moving average is $13.47. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -3.18, a P/E/G ratio of 0.88 and a beta of 1.18.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.19 EPS 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 negative net margin of 32.33% and a positive return on equity of 11.00%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, research analysts predict that Driven Brands Holdings Inc. will post 0.89 earnings per share for the current year.

Institutional Investors Weigh In On Driven Brands

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Driven Brands during the 1st quarter worth $26,000. PNC Financial Services Group Inc. lifted its position in Driven Brands by 877.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,679 shares of the company’s stock valued at $34,000 after acquiring an additional 2,405 shares during the last quarter. GAMMA Investing LLC lifted its position in Driven Brands by 49.3% in 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 last quarter. Lindbrook Capital LLC lifted its position in Driven Brands by 126.9% in the fourth quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock valued at $41,000 after acquiring an additional 1,594 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Driven Brands by 579.2% in the fourth quarter. Parallel Advisors LLC now owns 3,437 shares of the company’s stock valued at $49,000 after acquiring an additional 2,931 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other 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.