Driven Brands (NASDAQ:DRVN) Hits New 12-Month Low – Should You Sell?

Driven Brands Holdings Inc. (NASDAQ:DRVN)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $9.80 and last traded at $10.7910, with a volume of 3443197 shares. The stock had previously closed at $16.61.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DRVN. William Blair raised shares of Driven Brands from a “market perform” rating to an “outperform” rating in a report on Wednesday, December 3rd. Zacks Research lowered Driven Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. BTIG Research reiterated a “buy” rating and set a $21.00 price objective on shares of Driven Brands in a research note on Thursday, January 8th. Wall Street Zen cut shares of Driven Brands from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Driven Brands in a research note on Monday, December 29th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.80.

Driven Brands Trading Down 38.6%

The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 2.44. The company’s 50-day moving average is $15.80 and its 200-day moving average is $15.88. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -8.29, a PEG ratio of 1.19 and a beta of 1.04.

Insider Activity at Driven Brands

In related news, insider Scott L. O’melia sold 46,875 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $16.00, for a total value of $750,000.00. Following the transaction, the insider directly owned 326,944 shares in the company, valued at approximately $5,231,104. This represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Driven Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Driven Brands by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock valued at $610,000 after purchasing an additional 1,493 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Driven Brands by 22.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 139,321 shares of the company’s stock valued at $2,388,000 after buying an additional 25,806 shares during the last quarter. AlphaQuest LLC lifted its position in Driven Brands by 64.1% in the second quarter. AlphaQuest LLC now owns 11,246 shares of the company’s stock valued at $197,000 after buying an additional 4,394 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Driven Brands during the second quarter worth about $223,000. Finally, Covey Capital Advisors LLC increased its position in shares of Driven Brands by 95.2% during the second quarter. Covey Capital Advisors LLC now owns 73,645 shares of the company’s stock valued at $1,293,000 after acquiring an additional 35,915 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

About Driven Brands

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.