Driven Brands (NASDAQ:DRVN) Trading Down 4.5% - Should You Sell?

Driven Brands Holdings Inc. (NASDAQ:DRVN - Get Free Report) shares traded down 4.5% during mid-day trading on Wednesday . The company traded as low as $17.11 and last traded at $16.86. 25,329 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 772,067 shares. The stock had previously closed at $17.65.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Canaccord Genuity Group boosted their price target on shares of Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Piper Sandler boosted their target price on shares of Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Benchmark started coverage on shares of Driven Brands in a research report on Friday, April 4th. They issued a "buy" rating and a $22.00 price target on the stock. BMO Capital Markets boosted their price objective on Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price objective on Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Driven Brands presently has a consensus rating of "Moderate Buy" and an average target price of $20.78.

Driven Brands Stock Up 4.6%

The stock has a 50-day moving average of $17.03 and a 200 day moving average of $16.63. The company has a market capitalization of $3.02 billion, a PE ratio of 459.00, a P/E/G ratio of 0.79 and a beta of 1.11. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. The firm had revenue of $516.16 million during the quarter, compared to analyst estimates of $492.19 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business's revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.23 EPS. Sell-side analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Institutional Investors Weigh In On Driven Brands

A number of hedge funds have recently modified their holdings of DRVN. Barclays PLC increased its position in Driven Brands by 36.0% in the third quarter. Barclays PLC now owns 205,068 shares of the company's stock worth $2,928,000 after buying an additional 54,277 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Driven Brands by 47.2% during the 4th quarter. SG Americas Securities LLC now owns 13,720 shares of the company's stock worth $221,000 after acquiring an additional 4,399 shares during the period. Handelsbanken Fonder AB lifted its holdings in Driven Brands by 24.6% during the fourth quarter. Handelsbanken Fonder AB now owns 24,300 shares of the company's stock valued at $392,000 after purchasing an additional 4,800 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Driven Brands by 44.4% during the fourth quarter. Bank of New York Mellon Corp now owns 254,542 shares of the company's stock worth $4,108,000 after purchasing an additional 78,252 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Driven Brands during the fourth quarter worth about $375,000. 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.