Rhumbline Advisers Acquires 4,243 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Rhumbline Advisers grew its holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 86,478 shares of the company’s stock after acquiring an additional 4,243 shares during the quarter. Rhumbline Advisers owned 0.05% of Driven Brands worth $1,482,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. North Peak Capital Management LLC boosted its position in shares of Driven Brands by 8.6% in the fourth quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company’s stock valued at $92,905,000 after acquiring an additional 457,217 shares during the period. Vanguard Group Inc. lifted its position in Driven Brands by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company’s stock worth $92,134,000 after purchasing an additional 31,431 shares during the period. Bamco Inc. NY lifted its position in Driven Brands by 35.7% during the fourth quarter. Bamco Inc. NY now owns 4,750,000 shares of the company’s stock worth $76,665,000 after purchasing an additional 1,250,000 shares during the period. Dimensional Fund Advisors LP lifted its position in Driven Brands by 54.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company’s stock worth $19,141,000 after purchasing an additional 416,744 shares during the period. Finally, Northern Trust Corp lifted its position in Driven Brands by 7.0% during the fourth quarter. Northern Trust Corp now owns 578,215 shares of the company’s stock worth $9,332,000 after purchasing an additional 37,959 shares during the period. Institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Up 0.2%

Shares of NASDAQ DRVN opened at $17.06 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 4.07. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -9.43, a PEG ratio of 0.98 and a beta of 1.11. Driven Brands Holdings Inc. has a 12 month low of $11.45 and a 12 month high of $18.72. The stock has a 50-day moving average price of $17.25 and a two-hundred day moving average price of $16.66.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Driven Brands had a positive return on equity of 19.61% and a negative net margin of 12.75%. The company had revenue of $516.16 million during the quarter, compared to the consensus estimate of $492.19 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Driven Brands from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Piper Sandler upped their price objective on shares of Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group assumed coverage on shares of Driven Brands in a research report on Tuesday, June 3rd. They set a “neutral” rating and a $20.00 price objective for the company. Robert W. Baird set a $25.00 price objective on shares of Driven Brands in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.78.

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.