Stifel Financial Corp Acquires 13,510 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Stifel Financial Corp increased its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 7.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 193,021 shares of the company’s stock after acquiring an additional 13,510 shares during the period. Stifel Financial Corp owned about 0.12% of Driven Brands worth $2,754,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DRVN. Bank of New York Mellon Corp increased its stake in Driven Brands by 39.2% in the second quarter. Bank of New York Mellon Corp now owns 233,040 shares of the company’s stock worth $2,967,000 after purchasing an additional 65,567 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Driven Brands by 6.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 99,282 shares of the company’s stock worth $1,264,000 after buying an additional 6,159 shares during the period. Innealta Capital LLC bought a new stake in Driven Brands during the 2nd quarter valued at about $86,000. Rhumbline Advisers boosted its position in Driven Brands by 44.3% in the 2nd quarter. Rhumbline Advisers now owns 83,075 shares of the company’s stock valued at $1,058,000 after buying an additional 25,486 shares during the period. Finally, Quest Partners LLC grew its stake in Driven Brands by 79.3% in the 2nd quarter. Quest Partners LLC now owns 28,001 shares of the company’s stock worth $356,000 after acquiring an additional 12,386 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Performance

DRVN stock opened at $16.12 on Thursday. Driven Brands Holdings Inc. has a one year low of $10.59 and a one year high of $17.45. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 403.00, a PEG 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. The firm has a 50-day simple moving average of $15.83 and a two-hundred day simple moving average of $14.18.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The company had revenue of $591.70 million during the quarter, compared to the consensus estimate of $598.49 million. During the same period last year, the firm earned $0.19 earnings per share. Driven Brands’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts forecast that Driven Brands Holdings Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DRVN has been the subject of several research analyst reports. Royal Bank of Canada lifted their price target on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group lifted their target price on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus increased their price target 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 investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.86.

Driven Brands Company 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.