Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Free Report) shares reached a new 52-week low on Friday after Barclays lowered their price target on the stock from $27.00 to $25.00. The company traded as low as $13.14 and last traded at $13.17, with a volume of 531430 shares traded. The stock had previously closed at $13.28.
A number of other equities research analysts have also commented on DRVN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Driven Brands in a research note on Thursday. Canaccord Genuity Group dropped their price objective on shares of Driven Brands from $41.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. Piper Sandler dropped their price objective on shares of Driven Brands from $40.00 to $23.00 in a research note on Monday, August 7th. Bank of America dropped their price target on shares of Driven Brands from $36.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Morgan Stanley decreased their price objective on shares of Driven Brands from $37.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.50.
Institutional Investors Weigh In On Driven Brands
Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its holdings in shares of Driven Brands by 838.1% in the 4th quarter. Principal Financial Group Inc. now owns 149,732 shares of the company’s stock worth $4,089,000 after acquiring an additional 133,771 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Driven Brands by 2.0% in the 4th quarter. Driehaus Capital Management LLC now owns 733,571 shares of the company’s stock worth $20,034,000 after acquiring an additional 14,466 shares during the last quarter. Granite Investment Partners LLC bought a new stake in shares of Driven Brands in the 1st quarter worth approximately $2,919,000. FORA Capital LLC bought a new stake in shares of Driven Brands in the 1st quarter worth approximately $247,000. Finally, American Century Companies Inc. lifted its holdings in shares of Driven Brands by 4.1% in the 4th quarter. American Century Companies Inc. now owns 2,018,494 shares of the company’s stock worth $55,125,000 after acquiring an additional 80,258 shares during the last quarter. 36.97% of the stock is currently owned by institutional investors.
Driven Brands Trading Down 0.8 %
The stock has a market capitalization of $2.21 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 4.14 and a beta of 0.96. The company has a current ratio of 1.18, a quick ratio of 1.02 and a debt-to-equity ratio of 1.59. The stock’s fifty day moving average price is $17.50 and its two-hundred day moving average price is $24.25.
Driven Brands (NASDAQ:DRVN – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). Driven Brands had a return on equity of 10.41% and a net margin of 5.99%. The firm had revenue of $606.85 million during the quarter, compared to analysts’ expectations of $590.38 million. Equities research analysts forecast that Driven Brands Holdings Inc. will post 0.83 EPS for the current year.
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. The company offers various services, such as paint, collision, glass, vehicle repair, car wash, oil change, and maintenance services.