Driven Brands Holdings Inc. [NASDAQ: DRVN] loss -5.49% or -1.7 points to close at $29.25 with a heavy trading volume of 7181150 shares. The company report on August 5, 2021 that Driven Brands Announces Pricing of Secondary Offering.
Driven Brands Holdings Inc. (“Driven Brands” or the “Company”) (NASDAQ: DRVN), announced the pricing of the underwritten secondary public offering of 12 million shares of Driven Brands’ common stock by Driven Equity LLC and RC IV Cayman ICW Holdings LLC (together the “Selling Stockholders”), each of which is a related entity of Roark Capital Management, LLC at a price of $29.50 per share. The Selling Stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock. Driven Brands is not selling any shares of common stock in the offering and will not receive any proceeds from the offering.
Following the completion of the offering and assuming no exercise of the underwriters’ option to purchase additional shares, the Selling Stockholders will remain Driven Brands’ largest stockholders, owning in the aggregate at least 109 million shares of common stock, representing 65.4% of the outstanding common stock of Driven Brands.
It opened the trading session at $29.905, the shares rose to $30.32 and dropped to $28.6501, the range by which the price of stock traded the whole day. The daily chart for DRVN points out that the company has recorded -4.19% loss over the past six months. However, it is still -31.4% lower than its most recent low trading price.
If we look at the average trading volume of 339.30K shares, DRVN reached to a volume of 7181150 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Driven Brands Holdings Inc. [DRVN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DRVN shares is $36.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DRVN stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stifel have made an estimate for Driven Brands Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 29, 2021. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on May 19, 2021, representing the official price target for Driven Brands Holdings Inc. stock.
The Average True Range (ATR) for Driven Brands Holdings Inc. is set at 1.38, with the Price to Sales ratio for DRVN stock in the period of the last 12 months amounting to 5.40. The Price to Book ratio for the last quarter was 2.79, with the Price to Cash per share for the same quarter was set at 1.05. Price to Free Cash Flow for DRVN in the course of the last twelve months was 155.11 with Quick ratio for the last quarter at 1.20.
Trading performance analysis for DRVN stock
Driven Brands Holdings Inc. [DRVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.87. With this latest performance, DRVN shares gained by 2.63% in over the last four-week period, additionally sinking by -4.19% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DRVN stock in for the last two-week period is set at 43.26, with the RSI for the last a single of trading hit 36.75, and the three-weeks RSI is set at 46.58 for Driven Brands Holdings Inc. [DRVN]. The present Moving Average for the last 50 days of trading for this stock 29.83, while it was recorded at 30.87 for the last single week of trading.
Driven Brands Holdings Inc. [DRVN]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Driven Brands Holdings Inc. [DRVN] shares currently have an operating margin of +13.44 and a Gross Margin at +37.58. Driven Brands Holdings Inc.’s Net Margin is presently recorded at -0.46.
Return on Total Capital for DRVN is now 4.25, given the latest momentum, and Return on Invested Capital for the company is -0.15. Return on Equity for this stock declined to -0.60, with Return on Assets sitting at -0.13. When it comes to the capital structure of this company, Driven Brands Holdings Inc. [DRVN] has a Total Debt to Total Equity ratio set at 271.98. Additionally, DRVN Total Debt to Total Capital is recorded at 73.12, with Total Debt to Total Assets ending up at 64.52. Long-Term Debt to Equity for the company is recorded at 264.46, with the Long-Term Debt to Total Capital now at 71.09.
Reflecting on the efficiency of the workforce at the company, Driven Brands Holdings Inc. [DRVN] managed to generate an average of -$609 per employee. Receivables Turnover for the company is 10.85 with a Total Asset Turnover recorded at a value of 0.28.Driven Brands Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.40.
Driven Brands Holdings Inc. [DRVN]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DRVN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Driven Brands Holdings Inc. go to 30.54%.
An analysis of insider ownership at Driven Brands Holdings Inc. [DRVN]
There are presently around $1,187 million, or 97.60% of DRVN stock, in the hands of institutional investors. The top three institutional holders of DRVN stocks are: JPMORGAN CHASE & CO with ownership of 3,775,970, which is approximately New of the company’s market cap and around 2.66% of the total institutional ownership; ALLIANCEBERNSTEIN L.P., holding 3,658,058 shares of the stock with an approximate value of $107.0 million in DRVN stocks shares; and VANGUARD GROUP INC, currently with $83.4 million in DRVN stock with ownership of nearly New of the company’s market capitalization.
Positions in Driven Brands Holdings Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 87 institutional holders increased their position in Driven Brands Holdings Inc. [NASDAQ:DRVN] by around 36,565,999 shares. Additionally, 3 investors decreased positions by around 20,600 shares, while 3 investors held positions by with 3,980,479 shares. The mentioned changes placed institutional holdings at 40,567,078 shares, according to the latest SEC report filing. DRVN stock had 84 new institutional investments in for a total of 35,816,047 shares, while 2 institutional investors sold positions of 10,200 shares during the same period.