Driven Brands Holdings Inc. (NASDAQ:DRVN) Stake Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 44.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Emeth Value Capital LLC acquired a new stake in shares of Driven Brands during the 4th quarter worth approximately $41,452,000. Barclays PLC grew its holdings in Driven Brands by 36.0% in the 3rd quarter. Barclays PLC now owns 205,068 shares of the company's stock worth $2,928,000 after buying an additional 54,277 shares in the last quarter. Millrace Asset Group Inc. bought a new position in Driven Brands in the 3rd quarter worth approximately $1,420,000. North Peak Capital Management LLC grew its holdings in 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 worth $75,617,000 after buying an additional 95,529 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in Driven Brands by 7.5% in the 3rd quarter. Stifel Financial Corp now owns 193,021 shares of the company's stock worth $2,754,000 after buying an additional 13,510 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on DRVN shares. BMO Capital Markets increased their price objective on Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Piper Sandler increased their price objective on Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price objective on Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Canaccord Genuity Group increased their price target on Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, Robert W. Baird set a $25.00 price target on Driven Brands in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.30.

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Driven Brands Price Performance

Shares of DRVN remained flat at $17.41 during trading hours on Friday. The stock had a trading volume of 1,036,546 shares, compared to its average volume of 855,937. The company has a market capitalization of $2.85 billion, a P/E ratio of 435.25, 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. The business's 50 day moving average is $16.29 and its two-hundred day moving average is $15.71. Driven Brands Holdings Inc. has a 1-year low of $10.59 and a 1-year high of $18.01.

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

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.