Proficio Capital Partners LLC Takes Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Proficio Capital Partners LLC bought a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,258 shares of the company's stock, valued at approximately $375,000.

A number of other institutional investors also recently bought and sold shares of the stock. Versor Investments LP raised its stake in shares of Driven Brands by 107.1% in the fourth quarter. Versor Investments LP now owns 43,900 shares of the company's stock valued at $709,000 after acquiring an additional 22,700 shares during the period. Emeth Value Capital LLC bought a new position in Driven Brands during the 4th quarter valued at about $41,452,000. Barclays PLC raised its position 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 purchasing an additional 54,277 shares during the period. Millrace Asset Group Inc. purchased a new position in shares of Driven Brands during the third quarter valued at approximately $1,420,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Driven Brands by 44.4% during the fourth quarter. Bank of New York Mellon Corp now owns 254,542 shares of the company's stock valued at $4,108,000 after buying an additional 78,252 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DRVN shares. BMO Capital Markets raised their price target on Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group lifted their target price on Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Piper Sandler boosted their target price on shares of Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on shares of Driven Brands in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of Driven Brands from $14.50 to $17.00 and gave the stock 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 a consensus rating of "Moderate Buy" and a consensus price target of $20.30.

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Driven Brands Stock Down 0.2 %

Shares of NASDAQ DRVN traded down $0.03 during mid-day trading on Friday, reaching $17.86. 1,040,095 shares of the company were exchanged, compared to its average volume of 897,905. The firm has a 50-day moving average of $16.49 and a 200 day moving average of $15.85. Driven Brands Holdings Inc. has a 1 year low of $10.59 and a 1 year high of $18.01. 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 stock has a market cap of $2.93 billion, a price-to-earnings ratio of 446.50, a P/E/G ratio of 0.79 and a beta of 1.13.

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

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.