Price T Rowe Associates Inc. MD Boosts Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Price T Rowe Associates Inc. MD increased its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 20.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,760 shares of the company’s stock after buying an additional 3,952 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Driven Brands were worth $384,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of Driven Brands by 36.0% in the third quarter. Barclays PLC now owns 205,068 shares of the company’s stock worth $2,928,000 after acquiring an additional 54,277 shares in the last quarter. SG Americas Securities LLC grew its stake in Driven Brands by 47.2% during the 4th quarter. SG Americas Securities LLC now owns 13,720 shares of the company’s stock worth $221,000 after purchasing an additional 4,399 shares in the last quarter. Blue Trust Inc. increased its holdings in Driven Brands by 600.5% during the 4th quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock worth $148,000 after purchasing an additional 7,885 shares during the period. Emeth Value Capital LLC purchased a new stake in Driven Brands during the 4th quarter worth about $41,452,000. Finally, Handelsbanken Fonder AB raised its holdings in Driven Brands by 24.6% in the fourth quarter. Handelsbanken Fonder AB now owns 24,300 shares of the company’s stock valued at $392,000 after acquiring an additional 4,800 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Stock Up 0.3%

Shares of NASDAQ DRVN opened at $17.90 on Thursday. The business has a 50-day moving average price of $16.80 and a 200 day moving average price of $16.38. The stock has a market cap of $2.94 billion, a PE ratio of 447.50, a price-to-earnings-growth ratio of 0.79 and a beta of 1.10. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. Driven Brands Holdings Inc. has a 52-week low of $10.64 and a 52-week high of $18.72.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. The business had revenue of $516.16 million during the quarter, compared to the consensus estimate of $492.19 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 earnings per share. Equities research analysts forecast that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on DRVN shares. Robert W. Baird set a $25.00 target price on shares of Driven Brands in a research note on Thursday, March 13th. The Goldman Sachs Group upped their price objective on Driven Brands from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. BMO Capital Markets raised their target price on Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group boosted their target price on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Benchmark began coverage on shares of Driven Brands in a research note on Friday, April 4th. They issued a “buy” rating and a $22.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.78.

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.