Ameriprise Financial Inc. Acquires 8,441 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Ameriprise Financial Inc. grew its holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 25.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,622 shares of the company’s stock after acquiring an additional 8,441 shares during the quarter. Ameriprise Financial Inc.’s holdings in Driven Brands were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Driven Brands by 600.5% in the fourth 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 acquired a new position in shares of Driven Brands in the fourth quarter valued at $178,000. SBI Securities Co. Ltd. acquired a new position in shares of Driven Brands in the fourth quarter valued at $215,000. KLP Kapitalforvaltning AS acquired a new position in shares of Driven Brands in the fourth quarter valued at $216,000. Finally, SG Americas Securities LLC raised its stake in shares of Driven Brands by 47.2% in the fourth quarter. SG Americas Securities LLC now owns 13,720 shares of the company’s stock valued at $221,000 after purchasing an additional 4,399 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on DRVN shares. BMO Capital Markets upped their target price on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Wall Street Zen lowered Driven Brands from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Piper Sandler upped their target price on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group upped their target price on Driven Brands from $21.00 to $23.00 and gave the company a “buy” 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.78.

Driven Brands Trading Down 1.4%

NASDAQ DRVN opened at $17.65 on Wednesday. The firm has a market cap of $2.90 billion, a P/E ratio of 441.25, a P/E/G ratio of 0.79 and a beta of 1.10. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The stock’s 50-day moving average is $17.00 and its 200-day moving average is $16.60. Driven Brands Holdings Inc. has a one year low of $10.88 and a one year high of $18.72.

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