Driven Brands Holdings Inc. (NASDAQ:DRVN) Shares Acquired by Barclays PLC

Barclays PLC increased its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 36.0% during the third quarter, Holdings Channel.com reports. The fund owned 205,068 shares of the company’s stock after buying an additional 54,277 shares during the period. Barclays PLC’s holdings in Driven Brands were worth $2,928,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Scopia Capital Management LP purchased a new position in Driven Brands during the third quarter worth approximately $16,890,000. Marshall Wace LLP raised its stake in shares of Driven Brands by 516.2% during the 2nd quarter. Marshall Wace LLP now owns 612,436 shares of the company’s stock worth $7,796,000 after buying an additional 513,045 shares during the period. Bamco Inc. NY lifted its position in shares of Driven Brands by 16.7% during the 3rd quarter. Bamco Inc. NY now owns 3,500,000 shares of the company’s stock valued at $49,945,000 after buying an additional 500,000 shares in the last quarter. AQR Capital Management LLC grew its stake in Driven Brands by 79.9% in the 2nd quarter. AQR Capital Management LLC now owns 929,073 shares of the company’s stock valued at $11,483,000 after acquiring an additional 412,547 shares during the period. Finally, HG Vora Capital Management LLC increased its holdings in Driven Brands by 4.9% in the 3rd quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company’s stock worth $107,738,000 after acquiring an additional 350,000 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DRVN. Canaccord Genuity Group increased their price objective on shares of Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus raised their price target on shares of Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Royal Bank of Canada boosted their price objective on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.86.

Driven Brands Stock Up 0.6 %

Shares of NASDAQ:DRVN opened at $16.14 on Wednesday. Driven Brands Holdings Inc. has a 52-week low of $10.59 and a 52-week high of $17.45. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The business has a fifty day moving average of $15.97 and a two-hundred day moving average of $14.30. The stock has a market cap of $2.65 billion, a P/E ratio of 403.50, a PEG ratio of 1.14 and a beta of 1.15.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data 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 firm had revenue of $591.70 million during the quarter, compared to analysts’ expectations of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. Driven Brands’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.19 earnings per share. On average, research analysts expect that Driven Brands Holdings Inc. will post 0.86 earnings per share 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.