Boston Partners Takes $2.12 Million Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Boston Partners purchased a new position in Driven Brands Holdings Inc. (NASDAQ:DRVN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 131,555 shares of the company’s stock, valued at approximately $2,123,000.

Several other large investors also recently added to or reduced their stakes in DRVN. Intech Investment Management LLC bought a new stake in shares of Driven Brands in the 3rd quarter valued at approximately $245,000. North Peak Capital Management LLC lifted its position in Driven Brands by 1.8% in the third quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock worth $75,617,000 after buying an additional 95,529 shares during the last quarter. Millrace Asset Group Inc. purchased a new position in Driven Brands during the third quarter worth $1,420,000. Townsquare Capital LLC bought a new position in Driven Brands during the third quarter valued at $153,000. Finally, MetLife Investment Management LLC raised its stake in shares of Driven Brands by 129.1% in the third quarter. MetLife Investment Management LLC now owns 35,158 shares of the company’s stock valued at $502,000 after acquiring an additional 19,810 shares during the period. 77.08% of the stock is owned by institutional investors.

Driven Brands Price Performance

Driven Brands stock opened at $17.41 on Friday. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $18.01. The business has a fifty day moving average of $16.29 and a two-hundred day moving average of $15.71. The firm has a market cap of $2.85 billion, a P/E ratio of 435.25, a P/E/G ratio of 0.79 and a beta of 1.13. 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 (NASDAQ:DRVN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. The company had revenue of $564.12 million for the quarter, compared to the consensus estimate of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share. On average, analysts forecast that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.