Driven Brands (NASDAQ:DRVN) Stock Falls 6.1% – Time to Sell?

by · The Markets Daily

Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Free Report)’s stock price dropped 6.1% during trading on Wednesday. The stock traded as low as $11.44 and last traded at $11.3950. 607,209 shares were traded during trading, a decline of 56% from the average daily volume of 1,375,006 shares. The stock had previously closed at $12.14.

Analyst Ratings Changes

Several equities analysts recently issued reports on DRVN shares. Bank of America started coverage on Driven Brands in a research report on Thursday, September 10th. They issued an “underperform” rating and a $12.00 target price on the stock. Wall Street Zen lowered Driven Brands from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Canaccord Genuity Group raised their price objective on Driven Brands from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Barclays initiated coverage on Driven Brands in a report on Tuesday, September 22nd. They set an “equal weight” rating and a $14.00 target price for the company. Finally, Morgan Stanley set a $14.00 target price on Driven Brands in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.23.

View Our Latest Research Report on DRVN

Driven Brands Stock Down 3.0%

The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.33 and a current ratio of 1.47. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.95 and a beta of 0.96. The business’s 50 day moving average price is $12.34 and its 200 day moving average price is $13.15.

Driven Brands (NASDAQ:DRVN – Get Free Report) last posted its earnings results on Monday, July 27th. The company reported $0.29 earnings per share (EPS) for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. On average, equities analysts forecast that Driven Brands Holdings Inc. will post 1.13 EPS for the current year.

Institutional Investors Weigh In On Driven Brands

Institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Driven Brands during the second quarter worth approximately $67,107,000. Bank of America Corp DE acquired a new stake in Driven Brands in the second quarter valued at approximately $6,110,000. Rangeley Capital LLC purchased a new stake in shares of Driven Brands in the first quarter valued at approximately $7,888,000. Bank of New York Mellon Corp purchased a new stake in shares of Driven Brands in the second quarter valued at approximately $3,715,000. Finally, Rubric Capital Management LP acquired a new position in shares of Driven Brands during the 1st quarter worth approximately $37,830,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Driven Brands Company Profile

(Get Free Report)

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.

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