Driven Brands (NASDAQ:DRVN) Sets New 52-Week High – Still a Buy?

Driven Brands Holdings Inc. (NASDAQ:DRVN) shares hit a new 52-week high during mid-day trading on Saturday . The company traded as high as $17.57 and last traded at $17.53, with a volume of 1193012 shares changing hands. The stock had previously closed at $16.23.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday. 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 research note on Wednesday. Canaccord Genuity Group increased their price target on shares of Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus boosted their price objective on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Driven Brands currently has an average rating of “Moderate Buy” and a consensus price target of $19.60.

Driven Brands Stock Performance

The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 438.25, a P/E/G ratio of 0.79 and a beta of 1.15. The stock has a 50 day simple moving average of $16.03 and a 200 day simple moving average of $15.42. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data 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 business had revenue of $564.12 million during the quarter, compared to analyst estimates of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. As a group, analysts anticipate that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of Driven Brands

Several hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp grew its position in Driven Brands by 260.7% in the 4th quarter. Mackenzie Financial Corp now owns 44,453 shares of the company’s stock worth $717,000 after purchasing 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 fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 113,515 shares of the company’s stock worth $1,832,000 after buying an additional 24,112 shares during the period. State of Wyoming bought a new position in Driven Brands in the 4th quarter worth approximately $351,000. Seven Six Capital Management LLC acquired a new stake in Driven Brands in the 4th quarter valued at approximately $2,431,000. Finally, ProShare Advisors LLC raised its stake in Driven Brands by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 16,875 shares of the company’s stock valued at $272,000 after acquiring an additional 5,551 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

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.