Driven Brands Holdings Inc. (NASDAQ:DRVN) Short Interest Down 6.1% in May

Driven Brands Holdings Inc. (NASDAQ:DRVNGet Free Report) was the target of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 4,430,000 shares, a decrease of 6.1% from the April 30th total of 4,720,000 shares. Currently, 7.6% of the company’s shares are sold short. Based on an average trading volume of 1,310,000 shares, the days-to-cover ratio is presently 3.4 days.

Analyst Ratings Changes

A number of brokerages recently commented on DRVN. Canaccord Genuity Group lowered their price objective on Driven Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Piper Sandler dropped their price target on shares of Driven Brands from $18.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Barclays reduced their price objective on shares of Driven Brands from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. JPMorgan Chase & Co. cut shares of Driven Brands from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $12.50 in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group reduced their price target on Driven Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.61.

View Our Latest Stock Analysis on DRVN

Hedge Funds Weigh In On Driven Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DRVN. GAMMA Investing LLC lifted its holdings in shares of Driven Brands by 49.3% in the first quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock valued at $43,000 after purchasing an additional 904 shares in the last quarter. Quent Capital LLC boosted its position in Driven Brands by 17.1% during the 4th quarter. Quent Capital LLC now owns 8,921 shares of the company’s stock worth $127,000 after acquiring an additional 1,304 shares during the last quarter. Swiss National Bank grew its stake in shares of Driven Brands by 1.0% during the 3rd quarter. Swiss National Bank now owns 147,300 shares of the company’s stock worth $1,855,000 after acquiring an additional 1,500 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Driven Brands by 126.9% in the fourth quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock valued at $41,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Driven Brands in the first quarter worth $26,000. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Stock Performance

NASDAQ DRVN opened at $11.34 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 3.20. The stock’s 50-day moving average is $13.24 and its 200-day moving average is $13.53. Driven Brands has a one year low of $10.59 and a one year high of $27.68.

Driven Brands (NASDAQ:DRVNGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $572.23 million for the quarter, compared to analyst estimates of $584.31 million. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 12.08%. On average, equities research analysts anticipate that Driven Brands will post 0.87 earnings per share for the current fiscal year.

Driven Brands Company Profile

(Get Free Report)

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.

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