13,400 Shares in Driven Brands Holdings Inc. (NASDAQ:DRVN) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,400 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds have also recently added to or reduced their stakes in DRVN. Blue Trust Inc. boosted its stake in shares of Driven Brands by 600.5% in the 4th quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock valued at $148,000 after purchasing an additional 7,885 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Driven Brands in the fourth quarter valued at $215,000. SG Americas Securities LLC boosted its position in Driven Brands by 47.2% during the fourth quarter. SG Americas Securities LLC now owns 13,720 shares of the company’s stock valued at $221,000 after acquiring an additional 4,399 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Driven Brands by 54.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,398 shares of the company’s stock worth $234,000 after acquiring an additional 5,815 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of Driven Brands in the 4th quarter worth about $375,000. Institutional investors own 77.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DRVN. Robert W. Baird set a $25.00 target price on Driven Brands in a research report on Thursday, March 13th. Piper Sandler increased their price target on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their price objective on shares of Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Benchmark began coverage on shares of Driven Brands in a research note on Friday. They issued a “buy” rating and a $22.00 price target for the company. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Driven Brands Trading Down 4.2 %

DRVN opened at $15.43 on Tuesday. The firm has a market capitalization of $2.53 billion, a PE ratio of 385.75, a P/E/G ratio of 0.79 and a beta of 1.09. 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 Holdings Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $18.01. The company’s 50-day moving average is $16.52 and its 200 day moving average is $15.96.

Driven Brands (NASDAQ:DRVN) last posted its earnings results 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 analyst estimates of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. As a group, research analysts predict that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Driven Brands Company 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.