Driven Brands Holdings Inc. (NASDAQ:DRVN) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 687.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 114,327 shares of the company's stock after acquiring an additional 99,811 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.07% of Driven Brands worth $1,845,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Driven Brands during the fourth quarter worth approximately $1,742,000. Vanguard Group Inc. raised its position in Driven Brands by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company's stock worth $92,134,000 after buying an additional 31,431 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of Driven Brands in the 4th quarter worth $178,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Driven Brands in the fourth quarter valued at about $216,000. Finally, American Century Companies Inc. increased its stake in shares of Driven Brands by 34.5% during the fourth quarter. American Century Companies Inc. now owns 88,600 shares of the company's stock worth $1,430,000 after acquiring an additional 22,703 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DRVN. Benchmark started coverage on shares of Driven Brands in a research report on Friday, April 4th. They issued a "buy" rating and a $22.00 price objective for the company. Robert W. Baird set a $25.00 price target on Driven Brands in a report on Thursday, March 13th. Canaccord Genuity Group upped their price objective on Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised their target price on Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Finally, BMO Capital Markets boosted their target price on shares of Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Three research 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.50.

Driven Brands Price Performance

NASDAQ DRVN traded up $0.02 during trading hours on Wednesday, reaching $16.54. The company's stock had a trading volume of 63,834 shares, compared to its average volume of 895,602. 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 stock has a market cap of $2.71 billion, a PE ratio of 412.38, a PEG ratio of 0.79 and a beta of 1.09. The company's 50-day moving average is $16.43 and its two-hundred day moving average is $16.01. 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 - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business had revenue of $564.12 million for the quarter, compared to analyst estimates of $572.95 million. During the same period in the prior year, the business earned $0.19 earnings per share. The company's quarterly revenue was up 1.9% on a year-over-year basis. Analysts forecast 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.