Driven Brands (NASDAQ:DRVN) Trading Down 6% – What’s Next?

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) fell 6% on Monday . The stock traded as low as $12.69 and last traded at $12.5350. 71,390 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 1,487,801 shares. The stock had previously closed at $13.33.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DRVN. Royal Bank Of Canada cut their price target on Driven Brands from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday. Robert W. Baird set a $18.00 price target on shares of Driven Brands and gave the company an “outperform” rating in a report on Wednesday, May 20th. BMO Capital Markets reduced their price objective on Driven Brands from $18.00 to $14.00 and set a “market perform” rating for the company in a research report on Thursday, May 21st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $14.75 price target on shares of Driven Brands in a research note on Wednesday, May 20th. Finally, Wall Street Zen cut Driven Brands from a “buy” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.77.

Driven Brands Stock Down 1.5%

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 stock has a market cap of $2.04 billion, a P/E ratio of 11.87 and a beta of 0.95. The stock’s fifty day simple moving average is $13.97 and its 200-day simple moving average is $13.64.

Driven Brands (NASDAQ:DRVN) last posted 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%. As a group, research analysts forecast that Driven Brands Holdings Inc. will post 1.08 earnings per share for the current fiscal year.

Institutional Trading of Driven Brands

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Driven Brands during the 2nd quarter valued at $67,107,000. Boston Partners increased its position in Driven Brands by 1,301.0% during the 4th quarter. Boston Partners now owns 3,426,388 shares of the company’s stock valued at $50,783,000 after purchasing an additional 3,181,812 shares during the period. Rubric Capital Management LP bought a new position in Driven Brands during the first quarter worth $37,830,000. North Peak Capital Management LLC raised its position in shares of Driven Brands by 37.3% in the 4th quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company’s stock worth $59,144,000 after acquiring an additional 1,083,896 shares in the last quarter. Finally, Conversant Capital LLC acquired a new position in Driven Brands in the first quarter valued at approximately $12,610,000. 77.08% of the stock is currently owned by institutional investors.

About Driven Brands

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.