Proficio Capital Partners LLC Takes Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Proficio Capital Partners LLC acquired a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 23,258 shares of the company’s stock, valued at approximately $375,000.

A number of other institutional investors also recently modified their holdings of DRVN. 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 valued at $148,000 after purchasing an additional 7,885 shares during the last quarter. Townsquare Capital LLC bought a new stake in shares of Driven Brands in the 3rd quarter valued at $153,000. SG Americas Securities LLC boosted its stake in shares of Driven Brands by 47.2% in the 4th 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 during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Driven Brands by 54.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,398 shares of the company’s stock valued at $234,000 after purchasing an additional 5,815 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Driven Brands in the 3rd quarter valued at $245,000. 77.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on DRVN shares. Canaccord Genuity Group increased their target price on shares of Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. BMO Capital Markets increased their target price on shares of Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Piper Sandler increased their target price on shares of Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Stifel Nicolaus increased their target price on shares of Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

Driven Brands Stock Performance

DRVN opened at $15.98 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The company’s fifty day moving average price is $16.05 and its two-hundred day moving average price is $15.56. Driven Brands Holdings Inc. has a 1-year low of $10.59 and a 1-year high of $18.01. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 399.50, a PEG ratio of 0.79 and a beta of 1.13.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm had revenue of $564.12 million for the quarter, compared to the consensus estimate of $572.95 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. On average, analysts expect 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.