Lombard Odier Asset Management USA Corp Makes New $320,000 Investment in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Lombard Odier Asset Management USA Corp bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 25,110 shares of the company’s stock, valued at approximately $320,000.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in Driven Brands during the first quarter worth about $26,000. GAMMA Investing LLC raised its holdings in shares of Driven Brands by 49.3% during the first quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock valued at $43,000 after acquiring an additional 904 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Driven Brands by 579.2% in the fourth quarter. Parallel Advisors LLC now owns 3,437 shares of the company’s stock valued at $49,000 after acquiring an additional 2,931 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Driven Brands in the second quarter worth approximately $86,000. Finally, Wedmont Private Capital acquired a new stake in Driven Brands during the 1st quarter worth $159,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Performance

NASDAQ DRVN opened at $14.80 on Tuesday. Driven Brands Holdings Inc. has a 52-week low of $10.59 and a 52-week high of $16.00. The business’s 50-day moving average price is $13.76 and its 200 day moving average price is $13.33. The company has a quick ratio of 1.91, a current ratio of 2.11 and a debt-to-equity ratio of 3.03. The firm has a market cap of $2.43 billion, a P/E ratio of -3.18, a P/E/G ratio of 0.82 and a beta of 1.13.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. The firm had revenue of $611.60 million for the quarter, compared to the consensus estimate of $628.34 million. Driven Brands had a negative net margin of 33.56% and a positive return on equity of 15.12%. The firm’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. On average, equities research analysts expect that Driven Brands Holdings Inc. will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DRVN shares. BMO Capital Markets began coverage on shares of Driven Brands in a research note on Monday, July 22nd. They issued a “market perform” rating and a $14.00 target price on the stock. Benchmark reissued a “buy” rating and set a $20.00 target price on shares of Driven Brands in a research note on Tuesday, August 20th. Royal Bank of Canada upped their target price on shares of Driven Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $17.00 price objective (up previously from $14.00) on shares of Driven Brands in a research report on Friday, August 2nd. Finally, Baird R W upgraded Driven Brands to a “strong-buy” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.95.

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.