Driven Brands (NASDAQ:DRVN) Trading 7.9% Higher – Should You Buy?

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

Analyst Ratings Changes

A number of research analysts recently weighed in on DRVN shares. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Driven Brands in a research report on Wednesday, April 22nd. Canaccord Genuity Group cut their target price on Driven Brands from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. William Blair downgraded Driven Brands from an “outperform” rating to a “hold” rating in a research note on Wednesday, April 22nd. Freedom Capital upgraded Driven Brands to a “strong-buy” rating in a research note on Monday, March 23rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Driven Brands in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.00.

Driven Brands Trading Up 7.0%

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 firm has a market cap of $2.29 billion, a P/E ratio of -11.14 and a beta of 0.97. The company’s 50 day simple moving average is $12.24 and its 200-day simple moving average is $14.02.

Institutional Trading of Driven Brands

Large investors have recently modified their holdings of the company. Boston Partners raised its stake in Driven Brands by 1,301.0% in the fourth quarter. Boston Partners now owns 3,426,388 shares of the company’s stock worth $50,783,000 after buying an additional 3,181,812 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in Driven Brands in the third quarter worth approximately $44,645,000. Simcoe Capital Management LLC acquired a new position in shares of Driven Brands during the third quarter worth $33,911,000. North Peak Capital Management LLC increased its position in shares of Driven Brands by 37.3% during the fourth quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company’s stock worth $59,144,000 after purchasing an additional 1,083,896 shares in the last quarter. Finally, Conversant Capital LLC acquired a new position in shares of Driven Brands during the first quarter worth $12,610,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

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.