Driven Brands (NASDAQ:DRVN) Stock Crosses Above Fifty Day Moving Average – What’s Next?

Driven Brands Holdings Inc. (NASDAQ:DRVN)’s share price crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $12.20 and traded as high as $12.44. Driven Brands shares last traded at $12.40, with a volume of 748,879 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays assumed coverage on Driven Brands in a research report on Tuesday, September 22nd. They issued an “equal weight” rating and a $14.00 target price for the company. Wall Street Zen upgraded Driven Brands from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. UBS Group reissued a “buy” rating on shares of Driven Brands in a research report on Thursday, September 10th. Morgan Stanley set a $14.00 target price on shares of Driven Brands in a report on Friday, August 7th. Finally, Bank of America began coverage on shares of Driven Brands in a research note on Thursday, September 10th. They set an “underperform” rating and a $12.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.23.

Driven Brands Trading Up 2.7%

The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 1.99. The company’s 50 day simple moving average is $12.20 and its two-hundred day simple moving average is $13.30. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 2.11 and a beta of 0.96.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Monday, July 27th. The company reported $0.29 EPS for the quarter. Driven Brands had a return on equity of 24.13% and a net margin of 8.61%. As a group, research analysts anticipate that Driven Brands Holdings Inc. will post 1.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Driven Brands during the 2nd quarter worth about $67,107,000. Bank of America Corp DE bought a new stake in shares of Driven Brands during the 2nd quarter valued at approximately $6,110,000. Rangeley Capital LLC acquired a new position in shares of Driven Brands in the 1st quarter worth approximately $7,888,000. Bank of New York Mellon Corp bought a new position in shares of Driven Brands in the 2nd quarter worth $3,715,000. Finally, Rubric Capital Management LP bought a new position in Driven Brands in the 1st quarter valued at $37,830,000. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Company Profile

Driven Brands Holdings Inc is an automotive services company that provides vehicle maintenance, repair, collision services and related products through a portfolio of franchised and company-operated brands. Its businesses serve both individual vehicle owners and commercial customers across a range of automotive aftermarket needs.

The company’s brands include Take 5 Oil Change, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C and Auto Glass Now. These brands provide services such as oil changes, routine maintenance, mechanical repair, paint and collision repair, replacement parts distribution and windshield repair and replacement.

Driven Brands was founded in 1972 and is headquartered in Charlotte, North Carolina.