Driven Brands Holdings Inc. (NASDAQ:DRVN) closed Friday at $28.26 per share, up from $27.98 a day earlier. While Driven Brands Holdings Inc. has overperformed by 1.00%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DRVN fell by -13.74%, with highs and lows ranging from $35.45 to $24.62, whereas the simple moving average fell by -3.36% in the last 200 days.
On December 20, 2022, Credit Suisse started tracking Driven Brands Holdings Inc. (NASDAQ: DRVN) recommending Neutral. A report published by RBC Capital Mkts on December 06, 2022, Initiated its previous ‘Outperform’ rating for DRVN. Morgan Stanley also Upgraded DRVN shares as ‘Overweight’, setting a target price of $39 on the company’s shares in a report dated October 29, 2021. Stifel Initiated an Buy rating on June 29, 2021, and assigned a price target of $40. Credit Suisse initiated its ‘Outperform’ rating for DRVN, as published in its report on May 19, 2021. Robert W. Baird also rated the stock as ‘Outperform’.
Analysis of Driven Brands Holdings Inc. (DRVN)
Further, the quarter-over-quarter increase in sales is 39.20%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Driven Brands Holdings Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -1.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and DRVN is recording an average volume of 607.17K. On a monthly basis, the volatility of the stock is set at 2.57%, whereas on a weekly basis, it is put at 2.31%, with a gain of 5.49% over the past seven days. Furthermore, long-term investors anticipate a median target price of $37.88, showing growth from the present price of $28.26, which can serve as yet another indication of whether DRVN is worth investing in or should be passed over.
How Do You Analyze Driven Brands Holdings Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 8.60%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in DRVN shares?
The recent increase in stakes in DRVN appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in DRVN has increased by 10.69% in the first quarter. The company now owns 5,068,893 shares of the stock, with a value of $138.43 million, following the purchase of 489,383 additional shares during the last quarter. AllianceBernstein LP made another increased to its shares in DRVN during the first quarter, upping its stake by 17.37%. During the last quarter, the company picked up 687,462 additional shares for a total stake of worth $126.87 million, bringing number of shares owned by the company to 4,645,653.
During the first quarter, Neuberger Berman Investment Advis added a 140,533 position in DRVN. JPMorgan Investment Management, I sold an additional -0.5 million shares in the last quarter, decreasing its holdings by -11.92%, now holding 3.71 million shares worth $101.29 million. At the end of the first quarter, Bain Capital Public Equity LP increased its DRVN holdings by 3.84% and now holds 2.76 million DRVN shares valued at $75.34 million with the added 0.1 million shares during the period.