Driven Brands (NASDAQ:DRVN) Shares Gap Down After Analyst Downgrade

Driven Brands Holdings Inc. (NASDAQ:DRVN)’s share price gapped down prior to trading on Tuesday after BTIG Research downgraded the stock from a buy rating to a neutral rating. The stock had previously closed at $12.72, but opened at $10.75. Driven Brands shares last traded at $11.1930, with a volume of 266,009 shares.

Other equities analysts have also issued reports about the stock. Bank of America began coverage on shares of Driven Brands in a research report on Thursday, September 10th. They issued an “underperform” rating and a $12.00 price target for the company. Royal Bank Of Canada decreased their price objective on shares of Driven Brands from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Morgan Stanley set a $14.00 target price on shares of Driven Brands in a research note on Friday, August 7th. Canaccord Genuity Group downgraded shares of Driven Brands from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a report on Tuesday. Finally, UBS Group reiterated a “buy” rating on shares of Driven Brands in a research note on Thursday, September 10th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.48.

Institutional Investors Weigh In On Driven Brands

Several large investors have recently made changes to their positions in the company. Private Management Group Inc. increased its holdings in shares of Driven Brands by 26.3% in the 3rd quarter. Private Management Group Inc. now owns 1,276,171 shares of the company’s stock worth $15,072,000 after buying an additional 265,577 shares during the last quarter. Bfsg LLC raised its position in shares of Driven Brands by 22.2% during the 3rd quarter. Bfsg LLC now owns 10,094 shares of the company’s stock valued at $119,000 after buying an additional 1,835 shares in the last quarter. ZWJ Investment Counsel Inc. raised its position in shares of Driven Brands by 5.1% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 33,512 shares of the company’s stock valued at $396,000 after buying an additional 1,616 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Driven Brands in the 2nd quarter valued at about $310,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Driven Brands by 13.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,213 shares of the company’s stock valued at $1,996,000 after acquiring an additional 16,903 shares during the last quarter. 77.08% of the stock is owned by institutional investors.

Driven Brands Trading Up 1.4%

The stock has a market cap of $1.99 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.92 and a beta of 0.91. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.33 and a current ratio of 1.47. The stock’s fifty day moving average is $12.13 and its 200 day moving average is $13.25.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Monday, July 27th. The company reported $0.29 earnings per share for the quarter. Driven Brands had a return on equity of 24.13% and a net margin of 8.61%. As a group, equities research analysts predict that Driven Brands Holdings Inc. will post 1.13 earnings per share for the current fiscal year.

Driven Brands Company Profile

Driven Brands Holdings Inc is an automotive services company that provides vehicle maintenance, repair, collision services and related products through a portfolio of franchised and company-operated brands. Its businesses serve both individual vehicle owners and commercial customers across a range of automotive aftermarket needs.

The company’s brands include Take 5 Oil Change, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C and Auto Glass Now. These brands provide services such as oil changes, routine maintenance, mechanical repair, paint and collision repair, replacement parts distribution and windshield repair and replacement.

Driven Brands was founded in 1972 and is headquartered in Charlotte, North Carolina.