Intech Investment Management LLC Acquires New Stake in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Intech Investment Management LLC bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 17,185 shares of the company’s stock, valued at approximately $245,000.

Several other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in Driven Brands by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock valued at $219,000 after purchasing an additional 1,758 shares during the period. SG Americas Securities LLC lifted its position in shares of Driven Brands by 396.7% during the 2nd quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock worth $1,573,000 after purchasing an additional 98,662 shares during the last quarter. Wedmont Private Capital increased its holdings in Driven Brands by 255.8% in the second quarter. Wedmont Private Capital now owns 37,213 shares of the company’s stock valued at $485,000 after buying an additional 26,755 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Driven Brands by 39.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 233,040 shares of the company’s stock worth $2,967,000 after acquiring an additional 65,567 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Driven Brands by 6.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 99,282 shares of the company’s stock worth $1,264,000 after purchasing an additional 6,159 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Trading Down 2.1 %

Shares of DRVN opened at $16.80 on Friday. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $17.35. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The firm has a market capitalization of $2.76 billion, a P/E ratio of 420.00, a PEG ratio of 1.12 and a beta of 1.15. The firm’s 50-day moving average is $15.34 and its two-hundred day moving average is $13.78.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business had revenue of $591.70 million during the quarter, compared to the consensus estimate of $598.49 million. During the same quarter in the previous year, the company posted $0.19 EPS. The business’s revenue was up 1.8% on a year-over-year basis. On average, research analysts predict that Driven Brands Holdings Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on DRVN. Canaccord Genuity Group boosted their price objective on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada lifted their target price on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of Driven Brands in a research note on Tuesday, August 20th. Finally, Stifel Nicolaus increased their price objective on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.86.

Driven Brands Profile

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.