Creative Planning Acquires 2,754 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Creative Planning lifted its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 9.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,148 shares of the company’s stock after acquiring an additional 2,754 shares during the quarter. Creative Planning’s holdings in Driven Brands were worth $473,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in Driven Brands in the 1st quarter valued at $26,000. Innealta Capital LLC bought a new stake in shares of Driven Brands during the 2nd quarter valued at $86,000. Norden Group LLC bought a new stake in shares of Driven Brands during the 1st quarter valued at $182,000. Price T Rowe Associates Inc. MD lifted its position in shares of Driven Brands by 14.6% during 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 period. Finally, Handelsbanken Fonder AB lifted its position in shares of Driven Brands by 16.8% during 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 period. 77.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Baird R W raised Driven Brands to a “strong-buy” rating in a report on Friday, August 2nd. Benchmark reissued a “buy” rating and set a $20.00 price target on shares of Driven Brands in a report on Tuesday, August 20th. Canaccord Genuity Group upped their target price on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Robert W. Baird upped their target price on Driven Brands from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada upped their target price on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.45.

Driven Brands Stock Up 6.5 %

Shares of Driven Brands stock opened at $16.22 on Thursday. Driven Brands Holdings Inc. has a one year low of $10.59 and a one year high of $16.40. The company has a debt-to-equity ratio of 3.03, a current ratio of 2.11 and a quick ratio of 1.91. The stock’s 50-day moving average is $14.34 and its 200 day moving average is $13.20. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 405.50, a PEG ratio of 0.96 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $591.70 million for the quarter, compared to analyst estimates of $598.49 million. Driven Brands had a return on equity of 15.03% and a net margin of 0.27%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. Equities research analysts anticipate that Driven Brands Holdings Inc. will post 0.88 EPS for the current year.

Driven Brands 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.