Driven Brands Holdings Inc. $DRVN Position Increased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,362,430 shares of the company’s stock after buying an additional 200,788 shares during the period. Dimensional Fund Advisors LP’s holdings in Driven Brands were worth $29,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DRVN. Osaic Holdings Inc. lifted its holdings in shares of Driven Brands by 82.1% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after buying an additional 941 shares during the period. EverSource Wealth Advisors LLC grew its position in Driven Brands by 744.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock worth $37,000 after purchasing an additional 1,854 shares in the last quarter. Comerica Bank raised its stake in Driven Brands by 328.8% during the 4th quarter. Comerica Bank now owns 2,933 shares of the company’s stock valued at $43,000 after purchasing an additional 2,249 shares during the period. Larson Financial Group LLC lifted its position in shares of Driven Brands by 1,347.7% in the fourth quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock worth $57,000 after purchasing an additional 3,558 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of Driven Brands by 420.2% during the first quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock worth $57,000 after purchasing an additional 3,635 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on DRVN. Piper Sandler increased their target price on shares of Driven Brands from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Benchmark reiterated a “buy” rating on shares of Driven Brands in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Driven Brands from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. BTIG Research reiterated a “buy” rating and set a $17.00 target price on shares of Driven Brands in a research note on Friday, June 12th. Finally, William Blair downgraded shares of Driven Brands from an “outperform” rating to a “hold” rating in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Driven Brands presently has a consensus rating of “Moderate Buy” and an average target price of $17.18.

Driven Brands Stock Performance

DRVN stock opened at $14.85 on Wednesday. The company has a 50 day moving average price of $14.04 and a 200 day moving average price of $13.73. Driven Brands Holdings Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $19.74. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.38 and a quick ratio of 1.25. The stock has a market capitalization of $2.45 billion, a PE ratio of 13.26 and a beta of 0.95.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Thursday, June 11th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $484.44 million during the quarter, compared to analyst estimates of $480.84 million. Driven Brands had a net margin of 9.08% and a return on equity of 25.70%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. Analysts forecast that Driven Brands Holdings Inc. will post 1.08 EPS for the current year.

About Driven Brands

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.