By otakuyassine3@gmail.com 
ExodusPoint Capital Management LP purchased a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,226 shares of the company’s stock, valued at approximately $230,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings 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 acquired a new stake in shares of Driven Brands during the fourth quarter worth about $178,000. SBI Securities Co. Ltd. bought a new position in shares of Driven Brands during the 4th quarter valued at about $215,000. KLP Kapitalforvaltning AS acquired a new position in shares of Driven Brands in the 4th quarter valued at approximately $216,000. Finally, SG Americas Securities LLC increased its stake in Driven Brands by 47.2% during the 4th quarter. SG Americas Securities LLC now owns 13,720 shares of the company’s stock worth $221,000 after purchasing an additional 4,399 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.
Analyst Ratings Changes
DRVN has been the subject of several research analyst reports. Canaccord Genuity Group upped their price target on shares of Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Robert W. Baird set a $25.00 target price on shares of Driven Brands in a research note on Thursday, March 13th. JPMorgan Chase & Co. lifted their price target on Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Benchmark initiated coverage on Driven Brands in a research report on Friday, April 4th. They set a “buy” rating and a $22.00 price objective for the company. Finally, BMO Capital Markets lifted their target price on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.
Get Our Latest Stock Report on DRVN
Driven Brands Stock Up 0.5 %
NASDAQ:DRVN opened at $16.12 on Monday. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $18.01. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 403.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.09. 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’s 50 day moving average price is $16.43 and its two-hundred day moving average price is $15.99.
Driven Brands (NASDAQ:DRVN – Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.13. The firm had revenue of $564.12 million for the quarter, compared to analyst estimates of $572.95 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. Equities research analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal 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.
See Also
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