Proficio Capital Partners LLC Makes New $375,000 Investment in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Proficio Capital Partners LLC bought a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 23,258 shares of the company’s stock, valued at approximately $375,000.

A number of other institutional investors also recently modified their holdings of the business. HighTower Advisors LLC lifted its stake in Driven Brands by 5.9% in the 3rd quarter. HighTower Advisors LLC now owns 29,161 shares of the company’s stock worth $414,000 after purchasing an additional 1,617 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Driven Brands by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 496,073 shares of the company’s stock worth $8,007,000 after buying an additional 4,062 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Driven Brands by 47.2% in 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 period. Handelsbanken Fonder AB boosted its position in Driven Brands by 24.6% during the 4th quarter. Handelsbanken Fonder AB now owns 24,300 shares of the company’s stock valued at $392,000 after acquiring an additional 4,800 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of Driven Brands by 54.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,398 shares of the company’s stock valued at $234,000 after buying an additional 5,815 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Driven Brands Stock Performance

NASDAQ DRVN opened at $17.21 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $18.01. The business has a 50-day moving average price of $16.37 and a 200-day moving average price of $15.78. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 430.25, 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, beating the consensus estimate of $0.17 by $0.13. The business had revenue of $564.12 million during the quarter, compared to the consensus estimate of $572.95 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. As a group, equities research analysts predict that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DRVN shares. BMO Capital Markets lifted their target price on shares of Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Canaccord Genuity Group increased their price objective on shares of Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on Driven Brands in a research note on Thursday, March 13th. Finally, Piper Sandler lifted their target price on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

Driven Brands Company 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.