UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in Driven Brands Holdings Inc. (NASDAQ:DRVN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 19.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,403 shares of the company’s stock after selling 22,016 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.05% of Driven Brands worth $1,276,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp grew its stake in 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 valued at $2,967,000 after acquiring an additional 65,567 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Driven Brands by 6.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 99,282 shares of the company’s stock valued at $1,264,000 after purchasing an additional 6,159 shares during the last quarter. Innealta Capital LLC purchased a new position in Driven Brands during the second quarter worth approximately $86,000. Rhumbline Advisers boosted its stake in Driven Brands by 44.3% during the second quarter. Rhumbline Advisers now owns 83,075 shares of the company’s stock worth $1,058,000 after buying an additional 25,486 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in Driven Brands by 79.3% in the 2nd quarter. Quest Partners LLC now owns 28,001 shares of the company’s stock valued at $356,000 after buying an additional 12,386 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Driven Brands Stock Down 0.2 %

Driven Brands stock opened at $16.70 on Wednesday. The company has a market capitalization of $2.74 billion, a PE ratio of 417.50, a price-to-earnings-growth ratio of 1.14 and a beta of 1.15. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. Driven Brands Holdings Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $17.45. The firm has a 50 day moving average price of $15.79 and a 200 day moving average price of $14.16.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $598.49 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. Research analysts expect that Driven Brands Holdings Inc. will post 0.86 earnings per share for the current year.

About Driven Brands

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.