Driven Brands (NASDAQ:DRVN) Stock Price Down 4.5% - What's Next?

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DRVN shares. JPMorgan Chase & Co. increased their price target on shares of Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Piper Sandler increased their price target on shares of Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Benchmark started coverage on shares of Driven Brands in a report on Friday, April 4th. They set a "buy" rating and a $22.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Driven Brands in a report on Tuesday. They set a "neutral" rating and a $20.00 price target on the stock. Finally, BMO Capital Markets increased their price objective on shares of Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Driven Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.78.

Driven Brands Stock Up 0.1%

The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The firm has a market capitalization of $2.88 billion, a P/E ratio of 438.75, a P/E/G ratio of 0.79 and a beta of 1.11. The company's 50-day simple moving average is $16.99 and its two-hundred day simple moving average is $16.60.

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

Institutional Trading of Driven Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its stake in Driven Brands by 5.2% during the first quarter. Rhumbline Advisers now owns 86,478 shares of the company's stock valued at $1,482,000 after acquiring an additional 4,243 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Driven Brands by 22.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 139,321 shares of the company's stock valued at $2,388,000 after acquiring an additional 25,806 shares in the last quarter. Seven Six Capital Management LLC grew its stake in Driven Brands by 34.5% during the first quarter. Seven Six Capital Management LLC now owns 202,600 shares of the company's stock valued at $3,473,000 after acquiring an additional 52,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Driven Brands by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company's stock valued at $610,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Cinctive Capital Management LP grew its stake in Driven Brands by 36.0% during the first quarter. Cinctive Capital Management LP now owns 123,421 shares of the company's stock valued at $2,115,000 after acquiring an additional 32,677 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

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.