Intech Investment Management LLC Acquires 13,726 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Intech Investment Management LLC grew its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 79.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,911 shares of the company’s stock after purchasing an additional 13,726 shares during the quarter. Intech Investment Management LLC’s holdings in Driven Brands were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Emeth Value Capital LLC bought a new position in Driven Brands during the fourth quarter valued at about $41,452,000. Scopia Capital Management LP acquired a new stake in Driven Brands in the 3rd quarter worth approximately $16,890,000. Bamco Inc. NY boosted its position in Driven Brands by 16.7% during the third quarter. Bamco Inc. NY now owns 3,500,000 shares of the company’s stock worth $49,945,000 after purchasing an additional 500,000 shares during the period. HG Vora Capital Management LLC grew its holdings in Driven Brands by 4.9% during the third quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company’s stock valued at $107,738,000 after purchasing an additional 350,000 shares during the last quarter. Finally, Edgestream Partners L.P. raised its position in shares of Driven Brands by 247.1% in the third quarter. Edgestream Partners L.P. now owns 222,525 shares of the company’s stock valued at $3,175,000 after purchasing an additional 158,412 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Down 0.9 %

Shares of DRVN stock opened at $17.26 on Tuesday. Driven Brands Holdings Inc. has a one year low of $10.59 and a one year high of $18.01. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The stock has a fifty day moving average price of $16.33 and a 200 day moving average price of $15.76. The stock has a market cap of $2.83 billion, a P/E ratio of 431.50, a price-to-earnings-growth ratio of 0.79 and a beta of 1.13.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The company had revenue of $564.12 million during the quarter, compared to the consensus estimate of $572.95 million. During the same period last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts predict that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on DRVN. Piper Sandler upped their price objective on shares of Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Robert W. Baird set a $25.00 price target on Driven Brands in a research report on Thursday, March 13th. JPMorgan Chase & Co. boosted their price objective on Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. BMO Capital Markets raised their target price on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group upped their price target on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

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.