Driven Brands (NASDAQ:DRVN) Reaches New 1-Year Low – Here’s Why

by · The Cerbat Gem

Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Free Report)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $13.58 and last traded at $13.64, with a volume of 1430851 shares. The stock had previously closed at $14.03.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DRVN shares. Weiss Ratings reissued a “sell (d)” rating on shares of Driven Brands in a report on Monday. JPMorgan Chase & Co. lowered their price target on shares of Driven Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. Stifel Nicolaus set a $23.00 price target on Driven Brands in a report on Monday. BTIG Research decreased their target price on shares of Driven Brands from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. Finally, Zacks Research upgraded shares of Driven Brands to a “hold” rating in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.22.

View Our Latest Analysis on DRVN

Driven Brands Stock Up 0.6%

The firm’s 50 day simple moving average is $15.27 and its 200 day simple moving average is $16.82. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 2.44. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -10.98, a price-to-earnings-growth ratio of 0.77 and a beta of 1.05.

Driven Brands (NASDAQ:DRVN – Get Free Report) last announced its earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter. The firm had revenue of $564.12 million for the quarter. Driven Brands had a positive return on equity of 25.31% and a negative net margin of 9.14%. Sell-side analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $18.05, for a total value of $1,985,500.00. Following the transaction, the director directly owned 2,279,453 shares of the company’s stock, valued at approximately $41,144,126.65. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. North Peak Capital Management LLC raised its position in shares of Driven Brands by 9.0% during the second quarter. North Peak Capital Management LLC now owns 7,123,075 shares of the company’s stock valued at $125,081,000 after buying an additional 589,556 shares during the last quarter. Emeth Value Capital LLC grew its position in Driven Brands by 34.8% during the 3rd quarter. Emeth Value Capital LLC now owns 3,263,911 shares of the company’s stock worth $52,745,000 after acquiring an additional 842,668 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in Driven Brands during the 3rd quarter worth approximately $44,645,000. Simcoe Capital Management LLC acquired a new stake in Driven Brands during the 3rd quarter valued at $33,911,000. Finally, Ararat Capital Management LP raised its position in Driven Brands by 1.0% in the 3rd quarter. Ararat Capital Management LP now owns 1,097,714 shares of the company’s stock valued at $17,684,000 after purchasing an additional 10,465 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

About Driven Brands

(Get Free Report)

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.

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