Nuveen LLC Buys New Holdings in Driven Brands Holdings Inc. $DRVN

Key Points

• Nuveen LLC acquired 418,129 shares of Driven Brands Holdings Inc. valued at approximately $7.17 million, holding 0.25% of the company as of its latest SEC filing.
• Driven Brands reported earnings of $0.36 per share, exceeding estimates, with a revenue of $550.99 million in the last quarter, indicating a 6.2% year-over-year growth.
• The stock has received mixed analyst ratings, with seven analysts rating it as a Buy and a consensus price target of $21.60.

Nuveen LLC purchased a new position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 418,129 shares of the company's stock, valued at approximately $7,167,000. Nuveen LLC owned 0.25% of Driven Brands at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of DRVN. Bamco Inc. NY grew its holdings in shares of Driven Brands by 35.7% in the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company's stock worth $76,665,000 after acquiring an additional 1,250,000 shares during the period. Norwood Investment Partners LP acquired a new stake in shares of Driven Brands in the 1st quarter worth approximately $15,892,000. Dimensional Fund Advisors LP grew its holdings in shares of Driven Brands by 54.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company's stock worth $19,141,000 after acquiring an additional 416,744 shares during the period. Principal Financial Group Inc. acquired a new stake in Driven Brands during the 1st quarter valued at $2,850,000. Finally, Seven Six Capital Management LLC acquired a new stake in Driven Brands during the 4th quarter valued at $2,431,000. Institutional investors and hedge funds own 77.08% of the company's stock.

Driven Brands Trading Up 1.5%

Shares of DRVN stock traded up $0.27 during mid-day trading on Friday, hitting $18.42. 540,318 shares of the company's stock were exchanged, compared to its average volume of 998,622. Driven Brands Holdings Inc. has a fifty-two week low of $13.35 and a fifty-two week high of $18.76. The stock has a 50-day simple moving average of $17.39 and a two-hundred day simple moving average of $17.07. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 2.82. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -10.84, a PEG ratio of 1.11 and a beta of 1.08.

Driven Brands (NASDAQ:DRVN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.The business had revenue of $550.99 million for the quarter, compared to analysts' expectations of $540.12 million. During the same quarter last year, the firm earned $0.35 earnings per share. The business's revenue was up 6.2% on a year-over-year basis. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. Equities analysts expect that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Analysts Set New Price Targets

DRVN has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded Driven Brands from a "neutral" rating to an "overweight" rating and increased their target price for the company from $17.00 to $23.00 in a report on Wednesday, August 6th. The Goldman Sachs Group initiated coverage on Driven Brands in a report on Tuesday, June 3rd. They set a "neutral" rating and a $20.00 target price on the stock. Wall Street Zen cut Driven Brands from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Zacks Research upgraded Driven Brands to a "hold" rating in a report on Friday, August 8th. Finally, BTIG Research initiated coverage on Driven Brands in a report on Monday, June 30th. They set a "buy" rating and a $22.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold 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 $21.60.

Driven Brands 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.