Versor Investments LP Makes New Investment in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Versor Investments LP bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,200 shares of the company’s stock, valued at approximately $303,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wedmont Private Capital lifted its stake in Driven Brands by 2.2% during the third quarter. Wedmont Private Capital now owns 38,047 shares of the company’s stock worth $537,000 after purchasing an additional 834 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Driven Brands in the 1st quarter valued at $26,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Driven Brands by 14.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock valued at $219,000 after acquiring an additional 1,758 shares during the last quarter. Creative Planning lifted its stake in shares of Driven Brands by 9.1% in the 3rd quarter. Creative Planning now owns 33,148 shares of the company’s stock valued at $473,000 after acquiring an additional 2,754 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Driven Brands by 16.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 19,500 shares of the company’s stock valued at $278,000 after acquiring an additional 2,800 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Driven Brands Stock Performance

Shares of Driven Brands stock opened at $16.64 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The business has a 50-day moving average price of $14.73 and a two-hundred day moving average price of $13.33. Driven Brands Holdings Inc. has a 1-year low of $10.59 and a 1-year high of $16.93. The company has a market cap of $2.73 billion, a P/E ratio of 416.00, a PEG ratio of 1.11 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The firm had revenue of $591.70 million during the quarter, compared to the consensus estimate of $598.49 million. During the same period last year, the business posted $0.19 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. As a group, analysts anticipate that Driven Brands Holdings Inc. will post 0.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada increased their price target on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and issued a $17.00 price target (up from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price target on Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. BMO Capital Markets assumed coverage on Driven Brands in a research note on Monday, July 22nd. They issued a “market perform” rating and a $14.00 price target for the company. Finally, Canaccord Genuity Group raised their target price on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.86.

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.