Nuveen Asset Management LLC Cuts Stock Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Nuveen Asset Management LLC reduced its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 177,357 shares of the company’s stock after selling 3,100 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.11% of Driven Brands worth $2,863,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Barclays PLC lifted its position in shares of Driven Brands by 36.0% during the third quarter. Barclays PLC now owns 205,068 shares of the company’s stock valued at $2,928,000 after purchasing an additional 54,277 shares in the last quarter. SG Americas Securities LLC lifted its position 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 worth $221,000 after buying an additional 4,399 shares in the last quarter. 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 worth $148,000 after buying an additional 7,885 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Driven Brands by 24.6% in the 4th quarter. Handelsbanken Fonder AB now owns 24,300 shares of the company’s stock valued at $392,000 after purchasing an additional 4,800 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Driven Brands by 44.4% in the 4th quarter. Bank of New York Mellon Corp now owns 254,542 shares of the company’s stock valued at $4,108,000 after purchasing an additional 78,252 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target 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. BMO Capital Markets lifted their price target on shares of Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. The Goldman Sachs Group increased their price objective on Driven Brands from $16.00 to $20.00 and gave the company a “neutral” rating in a report 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 on the stock. Finally, Piper Sandler increased their price target on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.78.

Driven Brands Trading Up 0.4%

Shares of DRVN opened at $17.90 on Tuesday. Driven Brands Holdings Inc. has a twelve month low of $10.88 and a twelve month high of $18.72. The stock has a market cap of $2.94 billion, a PE ratio of 447.50, a P/E/G ratio of 0.79 and a beta of 1.10. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The business’s 50-day moving average price is $17.00 and its 200-day moving average price is $16.59.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $516.16 million for the quarter, compared to analyst estimates of $492.19 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. Driven Brands’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, equities analysts forecast that Driven Brands Holdings Inc. will post 0.85 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.