Vanguard Group Inc. Has $92.13 Million Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Vanguard Group Inc. lifted its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,708,430 shares of the company's stock after purchasing an additional 31,431 shares during the period. Vanguard Group Inc. owned 3.48% of Driven Brands worth $92,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its position in Driven Brands by 600.5% during the fourth quarter. Blue Trust Inc. now owns 9,198 shares of the company's stock worth $148,000 after acquiring an additional 7,885 shares in the last quarter. LPL Financial LLC bought a new stake in shares of Driven Brands in the 4th quarter valued at about $178,000. SBI Securities Co. Ltd. acquired a new stake in Driven Brands in the 4th quarter valued at about $215,000. KLP Kapitalforvaltning AS bought a new position in Driven Brands during the fourth quarter worth about $216,000. Finally, SG Americas Securities LLC increased its position in Driven Brands by 47.2% during the fourth quarter. SG Americas Securities LLC now owns 13,720 shares of the company's stock worth $221,000 after buying an additional 4,399 shares during the last quarter. 77.08% of the stock is owned by institutional investors.

Driven Brands Stock Performance

NASDAQ DRVN traded up $0.25 during trading on Tuesday, reaching $16.45. The company's stock had a trading volume of 44,216 shares, compared to its average volume of 896,857. Driven Brands Holdings Inc. has a 12 month low of $10.59 and a 12 month high of $18.01. The firm has a 50 day moving average price of $16.43 and a 200 day moving average price of $16.01. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 410.88, a price-to-earnings-growth ratio of 0.79 and a beta of 1.09. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DRVN. Robert W. Baird set a $25.00 price objective on Driven Brands in a research report on Thursday, March 13th. Benchmark started coverage on shares of Driven Brands in a research report on Friday, April 4th. They set a "buy" rating and a $22.00 price objective for the company. BMO Capital Markets increased their price objective on shares of Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Piper Sandler raised their target price on shares of Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their price target 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 equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Driven Brands presently has an average rating of "Moderate Buy" and a consensus price target of $20.50.

Driven Brands 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.