Northern Trust Corp Purchases 37,959 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Northern Trust Corp raised its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 578,215 shares of the company’s stock after buying an additional 37,959 shares during the quarter. Northern Trust Corp owned about 0.35% of Driven Brands worth $9,332,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in 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 acquiring an additional 7,885 shares during the period. LPL Financial LLC bought a new stake in shares of Driven Brands in the fourth quarter valued at approximately $178,000. SBI Securities Co. Ltd. bought a new stake in shares of Driven Brands in the fourth quarter valued at approximately $215,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Driven Brands during the 4th quarter valued at approximately $216,000. Finally, SG Americas Securities LLC lifted its stake in shares of Driven Brands by 47.2% during the 4th quarter. SG Americas Securities LLC now owns 13,720 shares of the company’s stock valued at $221,000 after buying an additional 4,399 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DRVN shares. Canaccord Genuity Group boosted their target price on shares of Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. BMO Capital Markets lifted their price target on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group boosted their price objective on Driven Brands from $16.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Benchmark started coverage on Driven Brands in a research note on Friday, April 4th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Robert W. Baird set a $25.00 target price on Driven Brands in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Driven Brands has a consensus rating of “Moderate Buy” and an average price target of $20.78.

Driven Brands Price Performance

DRVN stock opened at $18.20 on Friday. The firm has a 50 day simple moving average of $16.88 and a two-hundred day simple moving average of $16.45. The stock has a market cap of $2.99 billion, a PE ratio of 455.00, a P/E/G ratio of 0.79 and a beta of 1.10. Driven Brands Holdings Inc. has a one year low of $10.64 and a one year high of $18.72. 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 quarterly earnings data on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $516.16 million during the quarter, compared to the consensus estimate of $492.19 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. On average, analysts predict that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal 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.