Driven Brands (NASDAQ:DRVN) Trading Up 5.7% – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DRVN shares. Stifel Nicolaus set a $23.00 target price on shares of Driven Brands in a research note on Monday, November 17th. Piper Sandler decreased their price objective on Driven Brands from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Canaccord Genuity Group restated a “buy” rating and issued a $24.00 target price on shares of Driven Brands in a research note on Thursday, September 18th. Wall Street Zen raised Driven Brands from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Driven Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.22.

Driven Brands Price Performance

The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -12.18, a P/E/G ratio of 0.81 and a beta of 1.04. The company’s 50 day moving average is $14.92 and its 200 day moving average is $16.62. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 2.44.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share (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 during the quarter. On average, equities research analysts anticipate that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Activity

In other Driven Brands news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $18.05, for a total transaction of $1,985,500.00. Following the sale, the director directly owned 2,279,453 shares in the company, valued at $41,144,126.65. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Driven Brands

Several hedge funds have recently modified their holdings of DRVN. AustralianSuper Pty Ltd bought a new stake in shares of Driven Brands during the third quarter worth about $44,645,000. Simcoe Capital Management LLC bought a new stake in Driven Brands during the 3rd quarter worth approximately $33,911,000. Emeth Value Capital LLC raised its stake in shares of Driven Brands by 34.8% during the third quarter. Emeth Value Capital LLC now owns 3,263,911 shares of the company’s stock valued at $52,745,000 after acquiring an additional 842,668 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Driven Brands during the third quarter valued at $12,599,000. Finally, Advisory Research Inc. acquired a new position in shares of Driven Brands during the third quarter worth $10,725,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.