Driven Brands (NASDAQ:DRVN) Shares Up 6.4% – Should You Buy?

Driven Brands Holdings Inc. (NASDAQ:DRVN) shot up 6.4% during trading on Friday . The company traded as high as $17.21 and last traded at $17.28. 330,773 shares were traded during trading, a decline of 40% from the average session volume of 547,830 shares. The stock had previously closed at $16.23.

Analysts Set New Price Targets

Several brokerages recently weighed in on DRVN. Stifel Nicolaus lifted their price objective on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. BMO Capital Markets lifted their price objective on Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Wednesday. Piper Sandler lifted their price objective on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday. Canaccord Genuity Group lifted their price objective on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.60.

Driven Brands Stock Up 8.0 %

The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The firm has a market cap of $2.87 billion, a PE ratio of 438.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.15. The stock has a fifty day simple moving average of $16.03 and a two-hundred day simple moving average of $15.44.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. The firm had revenue of $564.12 million during the quarter, compared to the consensus estimate of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. As a group, sell-side analysts expect that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Institutional Trading of Driven Brands

A number of large investors have recently modified their holdings of the business. Mackenzie Financial Corp boosted its position in shares of Driven Brands by 260.7% during the 4th quarter. Mackenzie Financial Corp now owns 44,453 shares of the company’s stock valued at $717,000 after acquiring an additional 32,130 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Driven Brands by 27.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 113,515 shares of the company’s stock valued at $1,832,000 after acquiring an additional 24,112 shares during the last quarter. State of Wyoming bought a new stake in shares of Driven Brands during the 4th quarter valued at about $351,000. Seven Six Capital Management LLC bought a new stake in shares of Driven Brands during the 4th quarter valued at about $2,431,000. Finally, ProShare Advisors LLC lifted its position in Driven Brands by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 16,875 shares of the company’s stock worth $272,000 after buying an additional 5,551 shares during the last quarter. 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.