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

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versor Investments LP boosted its holdings in shares of Driven Brands by 107.1% in the 4th quarter. Versor Investments LP now owns 43,900 shares of the company’s stock worth $709,000 after acquiring an additional 22,700 shares in the last quarter. Emeth Value Capital LLC acquired a new position in Driven Brands in the fourth quarter worth $41,452,000. Barclays PLC grew its holdings in shares of Driven Brands by 36.0% during the third quarter. Barclays PLC now owns 205,068 shares of the company’s stock worth $2,928,000 after purchasing an additional 54,277 shares during the last quarter. Millrace Asset Group Inc. acquired a new stake in shares of Driven Brands in the third quarter valued at $1,420,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Driven Brands in the fourth quarter valued at about $375,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DRVN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective 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 raised their price target 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. Canaccord Genuity Group upped their price objective on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Robert W. Baird set a $25.00 target price on Driven Brands in a research report on Thursday, March 13th. Finally, BMO Capital Markets raised their price target on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Three investment 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 MarketBeat, Driven Brands currently has an average rating of “Moderate Buy” and an average target price of $20.30.

Driven Brands Stock Performance

Shares of DRVN stock opened at $17.26 on Tuesday. The stock has a 50-day moving average of $16.33 and a 200-day moving average of $15.76. Driven Brands Holdings Inc. has a one year low of $10.59 and a one year high of $18.01. The stock has a market cap of $2.83 billion, a PE ratio of 431.50, a price-to-earnings-growth ratio of 0.79 and a beta of 1.13. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $572.95 million. During the same period last year, the business posted $0.19 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that Driven Brands Holdings Inc. will post 0.85 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.