Alliancebernstein L.P. Buys 6,200 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Alliancebernstein L.P. raised its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 8.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 78,731 shares of the company’s stock after purchasing an additional 6,200 shares during the quarter. Alliancebernstein L.P.’s holdings in Driven Brands were worth $1,271,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Emeth Value Capital LLC bought a new stake in Driven Brands during the 4th quarter worth about $41,452,000. Boston Partners acquired a new stake in Driven Brands during the 4th quarter worth $2,123,000. Norges Bank acquired a new position in Driven Brands in the fourth quarter valued at about $1,742,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Driven Brands by 687.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 114,327 shares of the company’s stock valued at $1,845,000 after acquiring an additional 99,811 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Driven Brands by 44.4% in the fourth quarter. Bank of New York Mellon Corp now owns 254,542 shares of the company’s stock worth $4,108,000 after purchasing an additional 78,252 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Benchmark initiated coverage on Driven Brands in a research report on Friday, April 4th. They set a “buy” rating and a $22.00 price target on the stock. BMO Capital Markets boosted their price target on shares of Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on Driven Brands in a report on Thursday, March 13th. Piper Sandler lifted their price target on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group boosted their price target on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Three research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Driven Brands Price Performance

Shares of NASDAQ:DRVN opened at $16.30 on Friday. The firm has a 50 day simple moving average of $16.43 and a 200 day simple moving average of $16.04. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 407.50, a PEG ratio of 0.79 and a beta of 1.09. Driven Brands Holdings Inc. has a one year low of $10.59 and a one year high of $18.01. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company had revenue of $564.12 million during the quarter, compared to the consensus estimate of $572.95 million. During the same period last year, the company earned $0.19 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. Research analysts predict 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.