Driven Brands (NASDAQ:DRVN) Stock Price Up 6.4% - What's Next?

Driven Brands Holdings Inc. (NASDAQ:DRVN - Get Free Report) rose 6.4% during trading on Friday . The stock traded as high as $17.21 and last traded at $17.28. Approximately 330,773 shares changed hands during trading, a decline of 40% from the average daily volume of 547,830 shares. The stock had previously closed at $16.23.

Wall Street Analyst Weigh In

DRVN has been the subject of several analyst reports. Stifel Nicolaus boosted their price target on shares of Driven Brands from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. JPMorgan Chase & Co. boosted their price target on shares of Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Canaccord Genuity Group boosted their price target on shares of Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. BMO Capital Markets upped their target price on shares of Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Finally, Piper Sandler upped their target price on shares of Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $19.60.

Driven Brands Stock Performance

The firm's 50-day moving average is $16.05 and its 200 day moving average is $15.48. The stock has a market cap of $2.82 billion, a PE ratio of 430.00, a P/E/G ratio of 0.79 and a beta of 1.15. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm had revenue of $564.12 million during the quarter, compared to the consensus estimate of $572.95 million. During the same quarter in the prior year, the firm earned $0.19 EPS. Driven Brands's revenue for the quarter was up 1.9% on a year-over-year basis. As a group, research analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Institutional Trading of Driven Brands

Several institutional investors and hedge funds have recently bought and sold shares of the business. HG Vora Capital Management LLC raised its position in Driven Brands by 4.9% in the 3rd quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company's stock valued at $107,738,000 after purchasing an additional 350,000 shares during the last quarter. North Peak Capital Management LLC raised its position in Driven Brands by 8.6% during the 4th quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company's stock worth $92,905,000 after buying an additional 457,217 shares during the last quarter. Vanguard Group Inc. raised its position in Driven Brands by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company's stock worth $92,134,000 after buying an additional 31,431 shares during the last quarter. Bamco Inc. NY raised its position in Driven Brands by 35.7% during the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company's stock worth $76,665,000 after buying an additional 1,250,000 shares during the last quarter. Finally, Emeth Value Capital LLC purchased a new position in Driven Brands during the 4th quarter worth $41,452,000. Hedge funds and other 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.