Driven Brands (NASDAQ:DRVN) Shares Gap Down - Time to Sell?

Driven Brands Holdings Inc. (NASDAQ:DRVN - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $15.32, but opened at $14.52. Driven Brands shares last traded at $14.77, with a volume of 118,298 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday. BMO Capital Markets lifted their price objective on Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research note on Wednesday. Canaccord Genuity Group increased their target price on Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday. Stifel Nicolaus boosted their price target on shares of Driven Brands from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Finally, Piper Sandler upped their price target on shares of Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Driven Brands currently has an average rating of "Moderate Buy" and a consensus target price of $19.60.

Driven Brands Price Performance

The firm has a market cap of $2.88 billion, a P/E ratio of 438.25, a PEG ratio of 0.79 and a beta of 1.15. 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 stock's 50-day simple moving average is $16.03 and its two-hundred day simple moving average is $15.42.

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Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. The company had revenue of $564.12 million for the quarter, compared to the consensus estimate of $572.95 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm's revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. Equities research analysts forecast that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Institutional investors and hedge funds have recently modified their holdings of the business. Emeth Value Capital LLC purchased a new stake in shares of Driven Brands in the 4th quarter worth approximately $41,452,000. Bamco Inc. NY boosted its position in Driven Brands by 35.7% during the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company's stock valued at $76,665,000 after acquiring an additional 1,250,000 shares in the last quarter. Scopia Capital Management LP acquired a new stake in Driven Brands in the third quarter worth about $16,890,000. North Peak Capital Management LLC increased its holdings in shares of Driven Brands by 8.6% during the fourth quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company's stock valued at $92,905,000 after acquiring an additional 457,217 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Driven Brands by 54.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company's stock valued at $19,141,000 after purchasing an additional 416,744 shares during the last quarter. 77.08% of the stock is owned by 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.