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

Driven Brands Holdings Inc. (NASDAQ:DRVN) reached a new 52-week high on Wednesday . The company traded as high as $17.45 and last traded at $17.15, with a volume of 30718 shares changing hands. The stock had previously closed at $17.15.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of Driven Brands in a research note on Tuesday, August 20th. Royal Bank of Canada boosted their target price on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus increased their price objective on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Canaccord Genuity Group lifted their price objective 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 analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.86.

Driven Brands Trading Up 0.6 %

The stock has a market cap of $2.83 billion, a P/E ratio of 428.75, a PEG ratio of 1.10 and a beta of 1.15. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The stock’s fifty day moving average price is $15.53 and its 200 day moving average price is $13.97.

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

Hedge Funds Weigh In On Driven Brands

Hedge funds have recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in Driven Brands in the 2nd quarter worth about $86,000. nVerses Capital LLC purchased a new position in Driven Brands in the 3rd quarter worth about $86,000. Townsquare Capital LLC purchased a new position in Driven Brands in the 3rd quarter worth about $153,000. Bleakley Financial Group LLC purchased a new position in Driven Brands in the 3rd quarter worth about $171,000. Finally, Price T Rowe Associates Inc. MD raised its position in Driven Brands by 14.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock worth $219,000 after buying an additional 1,758 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

About Driven Brands

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.