Driven Brands saw a welcome improvement to its Relative Strength (RS) Rating on Friday, with an upgrade from 80 to 84.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners typically have an RS Rating of above 80 in the early stages of their moves.
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Driven Brands is now considered extended and out of buy range after clearing a 15.25 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Driven Brands saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 30% to 44%. Revenue rose from 1% to 2%.
Driven Brands earns the No. 1 rank among its peers in the Retail/Wholesale-Auto industry group. Copart and AutoZone are also among the group's highest-rated stocks.
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