Bank of New York Mellon Corp Grows Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Bank of New York Mellon Corp lifted its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 44.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 254,542 shares of the company’s stock after purchasing an additional 78,252 shares during the quarter. Bank of New York Mellon Corp owned about 0.16% of Driven Brands worth $4,108,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DRVN. HG Vora Capital Management LLC lifted its position in Driven Brands by 4.9% during the third quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company’s stock valued at $107,738,000 after buying an additional 350,000 shares in the last quarter. North Peak Capital Management LLC raised its stake in shares of Driven Brands by 1.8% in the 3rd quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock valued at $75,617,000 after acquiring an additional 95,529 shares during the period. Bamco Inc. NY lifted its holdings in shares of Driven Brands by 16.7% during the 3rd quarter. Bamco Inc. NY now owns 3,500,000 shares of the company’s stock valued at $49,945,000 after acquiring an additional 500,000 shares in the last quarter. Emeth Value Capital LLC purchased a new stake in Driven Brands during the 4th quarter worth $41,452,000. Finally, Geode Capital Management LLC increased its holdings in Driven Brands by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,511,230 shares of the company’s stock valued at $21,570,000 after purchasing an additional 19,681 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Performance

DRVN stock opened at $17.37 on Wednesday. The company has a 50-day simple moving average of $16.17 and a 200 day simple moving average of $15.67. The company has a market capitalization of $2.85 billion, a P/E ratio of 434.25, a PEG ratio of 0.79 and a beta of 1.13. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. Driven Brands Holdings Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $18.01.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The company had revenue of $564.12 million during the quarter, compared to analyst estimates of $572.95 million. During the same period in the prior year, the business posted $0.19 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts predict that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DRVN has been the topic of a number of recent research reports. Robert W. Baird set a $25.00 price objective on Driven Brands in a research note on Thursday, March 13th. Piper Sandler boosted their price target on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. BMO Capital Markets upped their price target on Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their price objective on shares of Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Three 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 company’s stock. According to MarketBeat, Driven Brands currently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

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.