Driven Brands (NASDAQ:DRVN) Shares Gap Down – What’s Next?

Driven Brands Holdings Inc. (NASDAQ:DRVN)’s stock price gapped down prior to trading 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.

Analysts Set New Price Targets

Several research firms recently commented on DRVN. Stifel Nicolaus upped their price objective on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada boosted their price target on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group boosted their price target on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.25.

Driven Brands Stock Up 2.3 %

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 company has a 50 day moving average price of $16.02 and a two-hundred day moving average price of $15.36. The stock has a market cap of $2.57 billion, a PE ratio of 390.85, a PEG ratio of 0.79 and a beta of 1.15.

Institutional Trading of Driven Brands

A number of hedge funds and other institutional investors have recently modified their holdings of DRVN. GSA Capital Partners LLP purchased a new position in shares of Driven Brands in the third quarter valued at $697,000. Emeth Value Capital LLC bought a new position in Driven Brands in the 4th quarter valued at $41,452,000. Barclays PLC increased its stake in Driven Brands by 36.0% in the 3rd quarter. Barclays PLC now owns 205,068 shares of the company’s stock worth $2,928,000 after buying an additional 54,277 shares during the period. Millrace Asset Group Inc. bought a new stake in shares of Driven Brands during the third quarter valued at approximately $1,420,000. Finally, North Peak Capital Management LLC lifted its holdings in shares of Driven Brands by 1.8% in the 3rd quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock worth $75,617,000 after buying an additional 95,529 shares during the period. 77.08% of the stock is owned by hedge funds and other institutional investors.

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.