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

Key Points

• Driven Brands shares rose above their 50-day moving average, reaching $12.44 and last trading at $12.40, compared with the moving average of $12.20.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $16.23; ratings range from Strong Buy to Sell.
• The company reported quarterly EPS of $0.29, an 8.61% net margin and 24.13% return on equity, while institutional investors own approximately 77.08% of its shares.

Driven Brands Holdings Inc. (NASDAQ:DRVN - Get Free Report) 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 Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Bank of America started coverage on shares of Driven Brands in a report on Thursday, September 10th. They set an "underperform" rating and a $12.00 price target on the stock. Weiss Ratings cut shares of Driven Brands from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, September 28th. Canaccord Genuity Group increased their price objective on shares of Driven Brands from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. Royal Bank Of Canada dropped their target price on shares of Driven Brands from $17.00 to $16.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. Finally, Wall Street Zen raised shares of Driven Brands from a "hold" rating to a "buy" rating in a research report on Saturday, October 24th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Driven Brands has a consensus rating of "Hold" and an average target price of $16.23.

Driven Brands Stock Performance

The business's fifty day moving average is $12.20 and its 200-day moving average is $13.30. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 1.99. The company has a market cap of $2.05 billion, a PE ratio of 11.92, a P/E/G ratio of 2.06 and a beta of 0.96.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its earnings results on Monday, July 27th. The company reported $0.29 EPS for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. As a group, research analysts predict that Driven Brands Holdings Inc. will post 1.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pictet Asset Management Holding SA purchased a new stake in Driven Brands in the 1st quarter worth approximately $159,000. Rockefeller Capital Management L.P. raised its stake in Driven Brands by 3,373.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,975 shares of the company's stock worth $163,000 after acquiring an additional 10,659 shares during the period. Vise Technologies Inc. purchased a new position in Driven Brands during the second quarter valued at approximately $248,000. Calamos Wealth Management LLC purchased a new position in Driven Brands during the first quarter valued at approximately $285,000. Finally, Calamos Advisors LLC bought a new position in shares of Driven Brands in the first quarter worth approximately $285,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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.

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