Russell Investments Group Ltd. Buys 20,044 Shares of Driven Brands Holdings Inc. $DRVN

Key Points

• Russell Investments Group Ltd. increased its stake in Driven Brands Holdings Inc. by 11.7% in Q1, now owning approximately 0.12% of the company valued at $3.28 million.
• The company's stock has been subject to significant analyst activity, with ratings ranging from a "buy" to a "hold", and the current consensus rating is a "Moderate Buy" with an average price target of $21.60.
• Driven Brands reported a quarterly earnings per share (EPS) of $0.36, exceeding analyst expectations of $0.34, with a total quarterly revenue of approximately $550.99 million.

Russell Investments Group Ltd. grew its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 11.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 191,435 shares of the company's stock after acquiring an additional 20,044 shares during the period. Russell Investments Group Ltd. owned about 0.12% of Driven Brands worth $3,281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC bought a new stake in shares of Driven Brands in the 4th quarter worth approximately $178,000. Wells Fargo & Company MN boosted its position in shares of Driven Brands by 34.5% in the 4th quarter. Wells Fargo & Company MN now owns 34,722 shares of the company's stock worth $560,000 after purchasing an additional 8,909 shares in the last quarter. Invesco Ltd. boosted its position in shares of Driven Brands by 14.6% in the 4th quarter. Invesco Ltd. now owns 143,117 shares of the company's stock worth $2,310,000 after purchasing an additional 18,277 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Driven Brands by 5.5% in the 4th quarter. Legal & General Group Plc now owns 73,791 shares of the company's stock worth $1,191,000 after purchasing an additional 3,833 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Driven Brands by 27.9% in the 4th quarter. Barclays PLC now owns 262,370 shares of the company's stock worth $4,235,000 after purchasing an additional 57,302 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

Driven Brands Stock Performance

Shares of NASDAQ DRVN traded up $0.27 during midday trading on Friday, hitting $18.42. 540,318 shares of the stock traded hands, compared to its average volume of 998,622. The firm has a 50-day moving average of $17.39 and a two-hundred day moving average of $17.06. The firm has a market capitalization of $3.03 billion, a P/E ratio of -10.84, a PEG ratio of 1.09 and a beta of 1.08. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.01 and a current ratio of 1.11. Driven Brands Holdings Inc. has a one year low of $13.35 and a one year high of $18.76.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Driven Brands in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $20.00 price target on the stock. Zacks Research raised Driven Brands to a "hold" rating in a research report on Friday, August 8th. BTIG Research began coverage on Driven Brands in a research report on Monday, June 30th. They issued a "buy" rating and a $22.00 price objective on the stock. Canaccord Genuity Group upped their price objective on Driven Brands from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. raised Driven Brands from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $17.00 to $23.00 in a research report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.