Zurcher Kantonalbank Zurich Cantonalbank Acquires 5,831 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 56.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,222 shares of the company’s stock after acquiring an additional 5,831 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Driven Brands were worth $231,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cooper Creek Partners Management LLC purchased a new position in Driven Brands in the third quarter valued at about $22,402,000. Algert Global LLC purchased a new position in shares of Driven Brands in the 3rd quarter worth approximately $8,716,000. AQR Capital Management LLC raised its stake in shares of Driven Brands by 7,230.1% during the 3rd quarter. AQR Capital Management LLC now owns 657,799 shares of the company’s stock worth $8,282,000 after acquiring an additional 648,825 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Driven Brands by 469.9% during the third quarter. Qube Research & Technologies Ltd now owns 668,001 shares of the company’s stock valued at $8,410,000 after acquiring an additional 550,781 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in Driven Brands in the third quarter valued at approximately $3,663,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Driven Brands Trading Up 3.5 %

NASDAQ DRVN opened at $12.00 on Tuesday. Driven Brands Holdings Inc. has a 1 year low of $10.59 and a 1 year high of $28.83. 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 company has a market capitalization of $1.97 billion, a PE ratio of -2.59, a P/E/G ratio of 0.72 and a beta of 1.19. The company has a fifty day moving average of $14.55 and a 200 day moving average of $13.56.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Driven Brands had a positive return on equity of 11.38% and a negative net margin of 33.30%. The business had revenue of $553.70 million during the quarter, compared to analyst estimates of $572.92 million. During the same quarter last year, the business posted $0.22 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Research analysts forecast that Driven Brands Holdings Inc. will post 0.88 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DRVN shares. Barclays reduced their price target on Driven Brands from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday. Piper Sandler decreased their price target on Driven Brands from $18.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday. JPMorgan Chase & Co. lowered Driven Brands from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $12.50 in a research note on Friday. Canaccord Genuity Group cut their price target on shares of Driven Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada lowered their price objective on shares of Driven Brands from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Monday, February 26th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Driven Brands currently has a consensus rating of “Moderate Buy” and an average price target of $17.61.

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.