Driven Brands (NASDAQ:DRVN) Reaches New 1-Year Low – Time to Sell?

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

Analyst Upgrades and Downgrades

DRVN has been the topic of a number of analyst reports. Zacks Research raised shares of Driven Brands to a “hold” rating in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Driven Brands in a research report on Monday. JPMorgan Chase & Co. dropped their target price on Driven Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 12th. Stifel Nicolaus set a $23.00 price target on Driven Brands in a research note on Monday. Finally, Canaccord Genuity Group restated a “buy” rating and set a $24.00 price target on shares of Driven Brands in a research note on Thursday, September 18th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.22.

Driven Brands Stock Performance

The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -11.00, a price-to-earnings-growth ratio of 0.81 and a beta of 1.05. The firm has a fifty day simple moving average of $15.56 and a 200 day simple moving average of $16.89. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.90 and a quick ratio of 0.80.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share (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%. On average, analysts anticipate that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $18.05, for a total transaction of $1,985,500.00. Following the completion of the sale, the director owned 2,279,453 shares of the company’s stock, valued at $41,144,126.65. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Driven Brands

Several institutional investors have recently bought and sold shares of DRVN. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Driven Brands during the first quarter valued at approximately $245,000. Norwood Investment Partners LP acquired a new stake in shares of Driven Brands in the first quarter worth approximately $15,892,000. Neo Ivy Capital Management purchased a new stake in shares of Driven Brands during the first quarter worth approximately $1,141,000. Mackenzie Financial Corp raised its stake in Driven Brands by 69.2% in the 1st quarter. Mackenzie Financial Corp now owns 75,194 shares of the company’s stock valued at $1,289,000 after purchasing an additional 30,741 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Driven Brands in the 1st quarter valued at $182,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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.