Driven Brands (NASDAQ:DRVN) Sets New 52-Week High – What’s Next?

Driven Brands Holdings Inc. (NASDAQ:DRVN)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.45 and last traded at $17.15, with a volume of 30718 shares. The stock had previously closed at $17.15.

Wall Street Analyst Weigh In

Several analysts have recently commented on DRVN shares. Benchmark restated a “buy” rating and set a $20.00 target price on shares of Driven Brands in a report on Tuesday, August 20th. Canaccord Genuity Group raised their price target on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus raised their target price on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada raised their target price on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.86.

Driven Brands Stock Up 0.6 %

The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $2.83 billion, a PE ratio of 428.75, a P/E/G ratio of 1.10 and a beta of 1.15. The stock has a 50-day moving average of $15.53 and a 200 day moving average of $13.97.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Thursday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $591.70 million during the quarter, compared to the consensus estimate of $598.49 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the business posted $0.19 earnings per share. Sell-side analysts anticipate that Driven Brands Holdings Inc. will post 0.86 EPS for the current year.

Hedge Funds Weigh In On Driven Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRVN. SG Americas Securities LLC lifted its stake in Driven Brands by 396.7% during the second quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock worth $1,573,000 after purchasing an additional 98,662 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Driven Brands during the third quarter worth about $697,000. Millrace Asset Group Inc. bought a new stake in Driven Brands during the third quarter worth about $1,420,000. Edgestream Partners L.P. bought a new stake in shares of Driven Brands in the 2nd quarter valued at about $816,000. Finally, North Peak Capital Management LLC lifted its stake 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 valued at $75,617,000 after acquiring an additional 95,529 shares during the last quarter. 77.08% of the stock is currently 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.