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

by · The Markets Daily

Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.09 and last traded at $16.07, with a volume of 207733 shares changing hands. The stock had previously closed at $15.23.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler restated an “overweight” rating and issued a $17.00 price objective (up from $14.00) on shares of Driven Brands in a research report on Friday, August 2nd. Baird R W upgraded Driven Brands to a “strong-buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group boosted their target price on Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Benchmark reiterated a “buy” rating and issued a $20.00 target price on shares of Driven Brands in a research report on Tuesday, August 20th. Finally, Canaccord Genuity Group boosted their target price on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.45.

View Our Latest Analysis on Driven Brands

Driven Brands Stock Up 6.5 %

The company has a 50 day simple moving average of $14.34 and a two-hundred day simple moving average of $13.20. The company has a quick ratio of 1.91, a current ratio of 2.11 and a debt-to-equity ratio of 3.03. The company has a market capitalization of $2.66 billion, a P/E ratio of 405.50, a PEG ratio of 0.96 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. Driven Brands had a return on equity of 15.03% and a net margin of 0.27%. The company had revenue of $591.70 million for the quarter, compared to analysts’ expectations of $598.49 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts predict that Driven Brands Holdings Inc. will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC grew its stake in shares of Driven Brands by 396.7% during the second quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock valued at $1,573,000 after buying an additional 98,662 shares during the last quarter. Bamco Inc. NY grew its stake in shares of Driven Brands by 14.3% during the first quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock valued at $31,580,000 after buying an additional 250,000 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Driven Brands during the second quarter valued at approximately $816,000. Sei Investments Co. grew its stake in shares of Driven Brands by 12.0% during the first quarter. Sei Investments Co. now owns 78,370 shares of the company’s stock valued at $1,237,000 after buying an additional 8,372 shares during the last quarter. Finally, Norden Group LLC bought a new position in shares of Driven Brands during the first quarter valued at approximately $182,000. Institutional investors own 77.08% of the company’s stock.

About Driven Brands

(Get Free Report)

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.

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