Driven Brands Holdings Inc (NASDAQ:DRVN) price on Friday, May 23, fall -2.44% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $17.22.
A look at the stock’s price movement, the close in the last trading session was $17.65. Turning to its 52-week performance, $18.72 and $10.64 were the 52-week high and 52-week low respectively. Overall, DRVN moved 5.97% over the past month.
Driven Brands Holdings Inc’s market cap currently stands at around $2.83 billion, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 538.95M for the company’s revenue for the quarter, with a low and high estimate of 532.3M and 551.44M respectively. The average forecast suggests down to a -11.87% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.11B, representing a -9.80% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that DRVN is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
6 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 4 recommend DRVN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
DRVN’s current price about -2.31% and 1.02% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 47.12, while 7-day volatility ratio is 1.92% and 2.08% in the 30-day chart. Further, Driven Brands Holdings Inc (DRVN) has a beta value of 1.11, and an average true range (ATR) of 0.58. Analysts have given the company’s stock an average 52-week price target of $25, forecast between a low of $25 and high of $25. Looking at the price targets, the low is -45.18% off current price level while to achieve the yearly target high, price needs to move -45.18%. Nonetheless, investors will most likely welcome a -45.18% jump to $25 which is the analysts’ median price.
If we refocus on Driven Brands Holdings Inc (NASDAQ:DRVN), historical trading data shows that trading volumes averaged 789.09K over the past 3 months. The company’s latest data on shares outstanding shows there are 164.27 million shares.
The 64.93% of Driven Brands Holdings Inc’s shares are in the hands of company insiders while institutional holders own 41.70% of the company’s shares. Current price change has pushed the stock 6.69% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the DRVN stock continues to rise going into the next quarter.
