Driven Brands Holdings Inc. (NASDAQ:DRVN) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,161 shares of the company’s stock after purchasing an additional 1,617 shares during the period. HighTower Advisors LLC’s holdings in Driven Brands were worth $414,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Wedmont Private Capital lifted its position in Driven Brands by 2.2% during the third quarter. Wedmont Private Capital now owns 38,047 shares of the company’s stock worth $537,000 after buying an additional 834 shares in the last quarter. Creative Planning boosted its position in shares of Driven Brands by 9.1% during the 3rd quarter. Creative Planning now owns 33,148 shares of the company’s stock valued at $473,000 after acquiring an additional 2,754 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Driven Brands by 16.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 19,500 shares of the company’s stock valued at $278,000 after acquiring an additional 2,800 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Driven Brands in the third quarter valued at about $86,000. Finally, Cambridge Investment Research Advisors Inc. increased its position 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. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DRVN shares. Stifel Nicolaus boosted their target price on shares of Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada upped their price objective on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group raised their target price on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Four investment 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.86.

Driven Brands Price Performance

DRVN opened at $16.06 on Friday. The stock’s 50-day moving average price is $15.93 and its 200 day moving average price is $14.22. Driven Brands Holdings Inc. has a 12-month low of $10.59 and a 12-month high of $17.45. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 401.50, a PEG ratio of 1.14 and a beta of 1.15. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84.

Driven Brands (NASDAQ:DRVN) last issued 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. The business had revenue of $591.70 million for the quarter, compared to analysts’ expectations of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. As a group, sell-side analysts expect that Driven Brands Holdings Inc. will post 0.86 earnings per share for the current year.

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.