Driven Brands (NASDAQ:DRVN) Sees Strong Trading Volume

Driven Brands Holdings Inc. (NASDAQ:DRVN) saw an uptick in trading volume on Thursday . 668,308 shares were traded during mid-day trading, a decline of 39% from the previous session’s volume of 1,086,718 shares.The stock last traded at $12.52 and had previously closed at $14.66.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DRVN shares. Canaccord Genuity Group increased their target price on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. dropped their price objective on Driven Brands from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Morgan Stanley cut Driven Brands from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $14.00 in a research note on Tuesday, January 16th. Piper Sandler dropped their price target on Driven Brands from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, February 26th. Finally, Royal Bank of Canada reduced their price objective on shares of Driven Brands from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Driven Brands has a consensus rating of “Moderate Buy” and an average price target of $19.89.

Driven Brands Trading Down 25.6 %

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 stock’s fifty day moving average price is $14.62 and its 200 day moving average price is $13.55. The stock has a market cap of $1.79 billion, a P/E ratio of -2.48, a PEG ratio of 0.89 and a beta of 1.19.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Driven Brands had a positive return on equity of 11.00% and a negative net margin of 32.33%. The business had revenue of $553.70 million during the quarter, compared to analysts’ expectations of $572.92 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts expect that Driven Brands Holdings Inc. will post 0.88 earnings per share for the current year.

Hedge Funds Weigh In On Driven Brands

A number of hedge funds have recently bought and sold shares of DRVN. Norden Group LLC bought a new stake in shares of Driven Brands during the 1st quarter valued at about $182,000. Allspring Global Investments Holdings LLC bought a new stake in Driven Brands during the first quarter valued at approximately $26,000. Cambridge Investment Research Advisors Inc. increased its holdings in Driven Brands by 46.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 93,123 shares of the company’s stock valued at $1,470,000 after buying an additional 29,435 shares during the last quarter. Wedmont Private Capital bought a new position in Driven Brands in the first quarter worth approximately $159,000. Finally, GAMMA Investing LLC boosted its stake in shares of Driven Brands by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after acquiring an additional 904 shares during the last quarter. Hedge funds and other 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.