Norwood Investment Partners LP Raises Holdings in Driven Brands Holdings Inc. $DRVN

Norwood Investment Partners LP increased its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 138.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 570,000 shares of the company’s stock after purchasing an additional 330,562 shares during the quarter. Driven Brands makes up 9.5% of Norwood Investment Partners LP’s holdings, making the stock its 3rd largest position. Norwood Investment Partners LP owned about 0.35% of Driven Brands worth $8,447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DRVN. Osaic Holdings Inc. raised its holdings in shares of Driven Brands by 82.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after purchasing an additional 941 shares during the period. EverSource Wealth Advisors LLC grew its stake in Driven Brands by 744.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after buying an additional 1,854 shares during the last quarter. Comerica Bank grew its stake in Driven Brands by 328.8% in the 4th quarter. Comerica Bank now owns 2,933 shares of the company’s stock valued at $43,000 after buying an additional 2,249 shares during the last quarter. Larson Financial Group LLC grew its stake in Driven Brands by 1,347.7% in the 4th quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock valued at $57,000 after buying an additional 3,558 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in Driven Brands by 30.5% in the 4th quarter. Federated Hermes Inc. now owns 8,727 shares of the company’s stock valued at $129,000 after buying an additional 2,040 shares during the last quarter. 77.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DRVN. Morgan Stanley decreased their price target on shares of Driven Brands from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 20th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $14.75 price target on shares of Driven Brands in a research note on Wednesday, May 20th. BTIG Research reiterated a “buy” rating and issued a $17.00 price target on shares of Driven Brands in a research note on Friday, June 12th. Freedom Capital upgraded shares of Driven Brands to a “strong-buy” rating in a research note on Monday, March 23rd. Finally, Benchmark reiterated a “buy” rating on shares of Driven Brands in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Driven Brands has an average rating of “Moderate Buy” and a consensus price target of $17.18.

Driven Brands Stock Performance

Shares of NASDAQ:DRVN opened at $13.36 on Wednesday. The company’s 50 day moving average price is $13.17 and its two-hundred day moving average price is $13.91. Driven Brands Holdings Inc. has a 12-month low of $9.80 and a 12-month high of $19.74. The firm has a market cap of $2.20 billion, a PE ratio of 11.93 and a beta of 0.97. The company has a quick ratio of 1.25, a current ratio of 1.38 and a debt-to-equity ratio of 2.08.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Thursday, June 11th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. Driven Brands had a net margin of 9.08% and a return on equity of 25.70%. The firm had revenue of $484.44 million for the quarter, compared to analyst estimates of $480.84 million. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue was down 6.2% compared to the same quarter last year. Equities research analysts predict that Driven Brands Holdings Inc. will post 1.04 earnings per share for the current year.

Driven Brands Profile

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.