PEAK6 Investments LLC Takes Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

PEAK6 Investments LLC bought a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,909 shares of the company’s stock, valued at approximately $398,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DRVN. Innealta Capital LLC bought a new position in shares of Driven Brands during the 2nd quarter valued at approximately $86,000. nVerses Capital LLC bought a new position in shares of Driven Brands during the 3rd quarter valued at approximately $86,000. Townsquare Capital LLC bought a new position in shares of Driven Brands during the 3rd quarter valued at approximately $153,000. Bleakley Financial Group LLC bought a new position in Driven Brands in the 3rd quarter worth approximately $171,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Driven Brands by 14.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock worth $219,000 after buying an additional 1,758 shares during the period. 77.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Driven Brands in a report on Tuesday, August 20th. Canaccord Genuity Group raised their price objective on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus raised their price objective on shares of Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Driven Brands currently has an average rating of “Moderate Buy” and an average target price of $17.86.

Driven Brands Stock Performance

Driven Brands stock opened at $17.16 on Thursday. The firm’s fifty day moving average price is $15.29 and its 200-day moving average price is $13.76. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. The stock has a market cap of $2.82 billion, a P/E ratio of 429.00, a price-to-earnings-growth ratio of 1.13 and a beta of 1.15. Driven Brands Holdings Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $17.35.

Driven Brands (NASDAQ:DRVN) last issued its earnings results on Thursday, October 31st. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $591.70 million for the quarter, compared to analysts’ expectations of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. On average, equities research analysts expect that Driven Brands Holdings Inc. will post 0.86 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.