Driven Brands (NASDAQ:DRVN) Shares Break Above Fifty Day Moving Average – What’s Next?

Driven Brands Holdings Inc. (NASDAQ:DRVN) shares crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $12.20 and traded as high as $12.44. Driven Brands shares last traded at $12.40, with a volume of 748,879 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DRVN shares. Weiss Ratings lowered Driven Brands from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, September 28th. Wall Street Zen upgraded Driven Brands from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Bank of America started coverage on Driven Brands in a research report on Thursday, September 10th. They set an “underperform” rating and a $12.00 target price for the company. Morgan Stanley set a $14.00 target price on Driven Brands in a research report on Friday, August 7th. Finally, Canaccord Genuity Group lifted their target price on Driven Brands from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.23.

Driven Brands Price Performance

The company has a market cap of $2.05 billion, a P/E ratio of 11.92, a PEG ratio of 2.06 and a beta of 0.96. The firm’s 50-day moving average is $12.20 and its two-hundred day moving average is $13.30. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.47 and a quick ratio of 1.33.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Monday, July 27th. The company reported $0.29 earnings per share for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. Analysts anticipate that Driven Brands Holdings Inc. will post 1.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Driven Brands in the 2nd quarter worth about $67,107,000. Bamco Inc. NY bought a new stake in shares of Driven Brands during the 2nd quarter worth approximately $62,766,000. Rubric Capital Management LP bought a new stake in shares of Driven Brands during the 1st quarter worth approximately $37,830,000. Jupiter Topco LLC purchased a new position in Driven Brands during the 2nd quarter valued at $35,214,000. Finally, Janus Henderson Group PLC boosted its holdings in Driven Brands by 0.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,484,305 shares of the company’s stock valued at $31,327,000 after acquiring an additional 7,126 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

About Driven Brands

Driven Brands Holdings Inc is an automotive services company that provides vehicle maintenance, repair, collision services and related products through a portfolio of franchised and company-operated brands. Its businesses serve both individual vehicle owners and commercial customers across a range of automotive aftermarket needs.

The company’s brands include Take 5 Oil Change, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C and Auto Glass Now. These brands provide services such as oil changes, routine maintenance, mechanical repair, paint and collision repair, replacement parts distribution and windshield repair and replacement.

Driven Brands was founded in 1972 and is headquartered in Charlotte, North Carolina.