Charles Schwab Investment Management Inc. Cuts Stake in Driven Brands Holdings Inc. $DRVN

Charles Schwab Investment Management Inc. reduced its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 485,788 shares of the company’s stock after selling 10,285 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.30% of Driven Brands worth $8,326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DRVN. LPL Financial LLC purchased a new position in Driven Brands in the fourth quarter worth $178,000. Wells Fargo & Company MN grew its holdings in Driven Brands by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 34,722 shares of the company’s stock worth $560,000 after purchasing an additional 8,909 shares during the last quarter. Invesco Ltd. grew its holdings in Driven Brands by 14.6% in the fourth quarter. Invesco Ltd. now owns 143,117 shares of the company’s stock worth $2,310,000 after purchasing an additional 18,277 shares during the last quarter. Barclays PLC grew its holdings in Driven Brands by 27.9% in the fourth quarter. Barclays PLC now owns 262,370 shares of the company’s stock worth $4,235,000 after purchasing an additional 57,302 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Driven Brands by 130.0% during the fourth quarter. First Trust Advisors LP now owns 171,359 shares of the company’s stock worth $2,766,000 after buying an additional 96,850 shares during the period. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Trading Up 1.9%

NASDAQ DRVN opened at $18.60 on Tuesday. The company has a market capitalization of $3.06 billion, a PE ratio of -10.94, a P/E/G ratio of 1.10 and a beta of 1.08. The company has a fifty day moving average of $17.29 and a 200 day moving average of $17.02. Driven Brands Holdings Inc. has a 1 year low of $13.35 and a 1 year high of $18.73. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.11 and a quick ratio of 1.01.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $550.99 million during the quarter, compared to the consensus estimate of $540.12 million. Driven Brands had a negative net margin of 12.32% and a positive return on equity of 21.17%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. Research analysts forecast that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DRVN. Zacks Research raised shares of Driven Brands to a “hold” rating in a report on Friday, August 8th. BTIG Research began coverage on shares of Driven Brands in a report on Monday, June 30th. They set a “buy” rating and a $22.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Driven Brands in a report on Tuesday, June 3rd. They set a “neutral” rating and a $20.00 price objective on the stock. Canaccord Genuity Group boosted their price objective on shares of Driven Brands from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. raised shares of Driven Brands from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $23.00 in a report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.60.

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.