Driven Brands (NASDAQ:DRVN) Sets New 12-Month High – Still a Buy?

Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) reached a new 52-week high during trading on Tuesday . The stock traded as high as $18.88 and last traded at $18.86, with a volume of 139989 shares traded. The stock had previously closed at $18.42.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Driven Brands from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $17.00 to $23.00 in a report on Wednesday, August 6th. Zacks Research upgraded shares of Driven Brands to a “hold” rating in a report on Friday, August 8th. The Goldman Sachs Group started coverage on shares of Driven Brands in a research report on Tuesday, June 3rd. They set a “neutral” rating and a $20.00 target price on the stock. Wall Street Zen cut shares of Driven Brands from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Canaccord Genuity Group increased their price target on shares of Driven Brands from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Driven Brands Trading Up 2.9%

The stock has a market cap of $3.11 billion, a P/E ratio of -11.15, a P/E/G ratio of 1.11 and a beta of 1.09. The company has a 50-day moving average price of $17.41 and a two-hundred day moving average price of $17.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 2.82.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.The business had revenue of $550.99 million for the quarter, compared to analyst estimates of $540.12 million. During the same period in the prior year, the company earned $0.35 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. On average, research analysts expect that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

A number of hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC raised its holdings in Driven Brands by 0.3% in the 2nd quarter. Lazard Asset Management LLC now owns 216,423 shares of the company’s stock valued at $3,800,000 after acquiring an additional 682 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Driven Brands by 2.7% in the second quarter. Handelsbanken Fonder AB now owns 30,900 shares of the company’s stock valued at $543,000 after purchasing an additional 800 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Driven Brands by 3.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,104 shares of the company’s stock valued at $550,000 after acquiring an additional 1,079 shares during the last quarter. Creative Planning increased its position in Driven Brands by 4.4% during the second quarter. Creative Planning now owns 34,247 shares of the company’s stock worth $601,000 after buying an additional 1,444 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Driven Brands by 12.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 14,027 shares of the company’s stock valued at $246,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds 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.