Driven Brands (NASDAQ:DRVN) Trading Up 7.9% – What’s Next?

Driven Brands Holdings Inc. (NASDAQ:DRVN) shares shot up 7.9% on Monday . The company traded as high as $14.07 and last traded at $14.0220. 388,191 shares traded hands during trading, a decline of 77% from the average session volume of 1,715,540 shares. The stock had previously closed at $13.00.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DRVN. Freedom Capital raised shares of Driven Brands to a “strong-buy” rating in a report on Monday, March 23rd. Piper Sandler reduced their price target on Driven Brands from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. William Blair lowered Driven Brands from an “outperform” rating to a “hold” rating in a research report on Wednesday, April 22nd. Zacks Research raised shares of Driven Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Driven Brands in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Driven Brands currently has an average rating of “Hold” and an average target price of $19.00.

Driven Brands Trading Up 7.0%

The stock has a market capitalization of $2.29 billion, a PE ratio of -11.14 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 2.44. The business’s 50-day moving average is $12.24 and its two-hundred day moving average is $14.02.

Institutional Investors Weigh In On Driven Brands

A number of institutional investors and hedge funds have recently made changes to their positions in DRVN. Western Standard LLC lifted its holdings in shares of Driven Brands by 69.3% in the third quarter. Western Standard LLC now owns 693,413 shares of the company’s stock valued at $11,171,000 after purchasing an additional 283,736 shares in the last quarter. Advisory Research Inc. purchased a new stake in shares of Driven Brands in the third quarter valued at about $10,725,000. Elgethun Capital Management purchased a new stake in shares of Driven Brands in the third quarter valued at about $8,137,000. Simcoe Capital Management LLC purchased a new stake in shares of Driven Brands in the third quarter valued at about $33,911,000. Finally, Emeth Value Capital LLC lifted its holdings in shares of Driven Brands by 17.8% in the fourth quarter. Emeth Value Capital LLC now owns 3,846,166 shares of the company’s stock valued at $57,000,000 after purchasing an additional 582,255 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Company Profile

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.