Beck Bode LLC Takes Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Beck Bode LLC purchased a new position in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,658 shares of the company’s stock, valued at approximately $252,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in shares of Driven Brands by 77.6% during the 4th quarter. Russell Investments Group Ltd. now owns 232,360 shares of the company’s stock valued at $3,313,000 after buying an additional 101,535 shares during the last quarter. CWM LLC raised its position in shares of Driven Brands by 16.8% in the fourth quarter. CWM LLC now owns 15,486 shares of the company’s stock valued at $221,000 after purchasing an additional 2,226 shares during the period. Signaturefd LLC boosted its holdings in Driven Brands by 63.8% in the 4th quarter. Signaturefd LLC now owns 11,281 shares of the company’s stock worth $161,000 after buying an additional 4,394 shares during the period. Lindbrook Capital LLC grew its stake in Driven Brands by 126.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock valued at $41,000 after buying an additional 1,594 shares in the last quarter. Finally, Kestrel Investment Management Corp bought a new stake in Driven Brands during the 4th quarter valued at $3,067,000. Institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Up 0.2 %

Driven Brands stock traded up $0.03 during mid-day trading on Wednesday, hitting $14.36. The company’s stock had a trading volume of 51,510 shares, compared to its average volume of 1,081,760. The business has a 50 day moving average price of $14.62 and a 200-day moving average price of $13.52. Driven Brands Holdings Inc. has a 12 month low of $10.60 and a 12 month high of $30.75. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.73 and a current ratio of 1.92.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Driven Brands had a positive return on equity of 11.00% and a negative net margin of 32.33%. The business had revenue of $553.70 million for the quarter, compared to analysts’ expectations of $572.92 million. During the same period in the previous year, the firm earned $0.22 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. Research analysts anticipate that Driven Brands Holdings Inc. will post 0.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Piper Sandler cut their price target on Driven Brands from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Canaccord Genuity Group lifted their target price on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. lowered their price target on shares of Driven Brands from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. Royal Bank of Canada reduced their price objective on shares of Driven Brands from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Monday, February 26th. Finally, Morgan Stanley lowered Driven Brands from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $14.00 in a research note on Tuesday, January 16th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Driven Brands has a consensus rating of “Moderate Buy” and an average target price of $19.89.

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.