Ewing Morris & Co. Investment Partners Ltd. Acquires 39,468 Shares of Driven Brands Holdings Inc. $DRVN

Key Points

• Ewing Morris & Co. Investment Partners Ltd. increased its stake in Driven Brands Holdings Inc. by 22.0%, now holding 218,867 shares, making it the 20th largest holding in their portfolio.
• Driven Brands reported a beat on earnings per share ($0.36) and revenue ($550.99 million) during their last quarterly results, exceeding analysts' expectations.
• Analysts have mixed ratings for Driven Brands, with a consensus of "Moderate Buy" and an average target price of $21.60.

Ewing Morris & Co. Investment Partners Ltd. raised its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 218,867 shares of the company's stock after acquiring an additional 39,468 shares during the period. Driven Brands makes up 1.4% of Ewing Morris & Co. Investment Partners Ltd.'s investment portfolio, making the stock its 20th biggest holding. Ewing Morris & Co. Investment Partners Ltd. owned 0.13% of Driven Brands worth $3,751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DRVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Driven Brands by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,104 shares of the company's stock worth $550,000 after acquiring an additional 1,079 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Driven Brands by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 37,161 shares of the company's stock valued at $600,000 after purchasing an additional 2,003 shares in the last quarter. Vident Advisory LLC increased its position in Driven Brands by 14.6% during the first quarter. Vident Advisory LLC now owns 19,146 shares of the company's stock worth $328,000 after buying an additional 2,435 shares in the last quarter. SG Americas Securities LLC increased its position in Driven Brands by 25.3% during the 1st quarter. SG Americas Securities LLC now owns 17,194 shares of the company's stock worth $295,000 after purchasing an additional 3,474 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Driven Brands by 20.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,760 shares of the company's stock valued at $384,000 after purchasing an additional 3,952 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DRVN shares. BTIG Research started coverage on Driven Brands in a report on Monday, June 30th. They issued a "buy" rating and a $22.00 price target for the company. The Goldman Sachs Group started coverage on Driven Brands in a report on Tuesday, June 3rd. They set a "neutral" rating and a $20.00 target price for the company. Canaccord Genuity Group boosted their price objective on Driven Brands from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. raised shares of Driven Brands from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $17.00 to $23.00 in a research report on Wednesday, August 6th. Finally, Zacks Research upgraded shares of Driven Brands to a "hold" rating in a research note on Friday, August 8th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $21.60.

Driven Brands Stock Performance

Shares of NASDAQ DRVN traded down $0.03 during midday trading on Wednesday, reaching $19.08. 1,068,982 shares of the company traded hands, compared to its average volume of 912,295. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 1.11 and a beta of 1.09. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.11 and a quick ratio of 1.01. The stock has a 50-day moving average price of $17.44 and a 200 day moving average price of $17.10. Driven Brands Holdings Inc. has a 52 week low of $13.35 and a 52 week high of $19.12.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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%.The firm's revenue for the quarter was up 6.2% on a year-over-year basis. 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. Sell-side analysts anticipate that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

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.