Russell Investments Group Ltd. Boosts Stock Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Russell Investments Group Ltd. grew its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 186.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,391 shares of the company’s stock after purchasing an additional 111,519 shares during the period. Russell Investments Group Ltd. owned about 0.10% of Driven Brands worth $2,766,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DRVN. Blue Trust Inc. boosted its holdings 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. LPL Financial LLC bought a new position in shares of Driven Brands during the 4th quarter valued at approximately $178,000. SBI Securities Co. Ltd. purchased a new stake in shares of Driven Brands during the 4th quarter worth approximately $215,000. KLP Kapitalforvaltning AS bought a new stake in shares of Driven Brands in the 4th quarter worth approximately $216,000. Finally, SG Americas Securities LLC grew its holdings in Driven Brands by 47.2% during 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 during the period. 77.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DRVN shares. Canaccord Genuity Group increased their price target on 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 lifted 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. Benchmark assumed coverage on shares of Driven Brands in a research note on Friday, April 4th. They set a “buy” rating and a $22.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Robert W. Baird set a $25.00 price target on Driven Brands in a report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Driven Brands Stock Up 0.9 %

Shares of NASDAQ DRVN opened at $16.30 on Friday. The business has a 50-day moving average of $16.43 and a 200-day moving average of $16.03. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 407.50, a PEG ratio of 0.79 and a beta of 1.09. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. Driven Brands Holdings Inc. has a 12 month low of $10.59 and a 12 month high of $18.01.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.13. The firm had revenue of $564.12 million for the quarter, compared to analysts’ expectations of $572.95 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. Sell-side analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

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.