Signaturefd LLC Buys 4,394 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Signaturefd LLC lifted its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 63.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,281 shares of the company’s stock after purchasing an additional 4,394 shares during the quarter. Signaturefd LLC’s holdings in Driven Brands were worth $161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Lindbrook Capital LLC raised its stake in shares of Driven Brands by 126.9% in the fourth quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock worth $41,000 after buying an additional 1,594 shares during the period. Kestrel Investment Management Corp bought a new position in shares of Driven Brands in the fourth quarter worth about $3,067,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Driven Brands by 56.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,222 shares of the company’s stock worth $231,000 after buying an additional 5,831 shares during the period. Quent Capital LLC raised its stake in shares of Driven Brands by 17.1% in the fourth quarter. Quent Capital LLC now owns 8,921 shares of the company’s stock worth $127,000 after buying an additional 1,304 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Driven Brands by 1.9% in the third quarter. Vanguard Group Inc. now owns 5,390,311 shares of the company’s stock worth $67,864,000 after buying an additional 100,300 shares during the period. Institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on DRVN. JPMorgan Chase & Co. cut their target price on Driven Brands from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Piper Sandler decreased their target price on Driven Brands from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, February 26th. Canaccord Genuity Group lifted their price objective on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada reduced their price objective on Driven Brands from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. Finally, Morgan Stanley downgraded Driven Brands from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $22.00 to $14.00 in a research report on Tuesday, January 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.89.

Driven Brands Trading Down 0.3 %

Shares of NASDAQ DRVN opened at $14.39 on Monday. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.92 and a quick ratio of 1.73. The stock has a market capitalization of $2.36 billion, a P/E ratio of -3.18, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18. Driven Brands Holdings Inc. has a 1-year low of $10.60 and a 1-year high of $31.47. The business has a fifty day moving average price of $14.61 and a 200 day moving average price of $13.50.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. Driven Brands had a positive return on equity of 11.00% and a negative net margin of 32.33%. The company had revenue of $553.70 million for the quarter, compared to analyst estimates of $572.92 million. During the same period in the prior year, the company posted $0.22 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts expect that Driven Brands Holdings Inc. will post 0.88 EPS for the current fiscal year.

About Driven Brands

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.