Driven Brands (NASDAQ:DRVN) Trading 5.7% Higher – What’s Next?

Driven Brands Holdings Inc. (NASDAQ:DRVN)’s share price traded up 5.7% on Wednesday . The stock traded as high as $14.87 and last traded at $14.9430. 154,256 shares traded hands during trading, a decline of 82% from the average session volume of 837,873 shares. The stock had previously closed at $14.14.

Analyst Upgrades and Downgrades

DRVN has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Driven Brands in a report on Monday. Canaccord Genuity Group reiterated a “buy” rating and set a $24.00 price target on shares of Driven Brands in a report on Thursday, September 18th. Stifel Nicolaus set a $23.00 price objective on Driven Brands in a research note on Monday, November 17th. William Blair upgraded Driven Brands from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Finally, Zacks Research raised Driven Brands to a “hold” rating in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Driven Brands presently has an average rating of “Moderate Buy” and an average target price of $21.22.

Driven Brands Stock Down 0.4%

The company has a market cap of $2.51 billion, a price-to-earnings ratio of -12.35, a P/E/G ratio of 0.86 and a beta of 1.04. The firm has a 50-day moving average price of $14.88 and a 200 day moving average price of $16.60. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.90 and a quick ratio of 0.80.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter. Driven Brands had a negative net margin of 9.14% and a positive return on equity of 25.31%. The firm had revenue of $564.12 million for the quarter. Sell-side analysts predict that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Insider Transactions at Driven Brands

In other Driven Brands news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $18.05, for a total value of $1,985,500.00. Following the completion of the transaction, the director directly owned 2,279,453 shares in the company, valued at approximately $41,144,126.65. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Driven Brands

Several hedge funds have recently added to or reduced their stakes in the business. AustralianSuper Pty Ltd bought a new stake in Driven Brands during the 3rd quarter worth approximately $44,645,000. Simcoe Capital Management LLC bought a new stake in shares of Driven Brands in the third quarter worth $33,911,000. Emeth Value Capital LLC increased its holdings in Driven Brands by 34.8% in the third quarter. Emeth Value Capital LLC now owns 3,263,911 shares of the company’s stock valued at $52,745,000 after purchasing an additional 842,668 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Driven Brands in the 3rd quarter valued at $12,599,000. Finally, Advisory Research Inc. acquired a new position in shares of Driven Brands during the 3rd quarter valued at $10,725,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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.