Interval Partners LP Reduces Stake in Driven Brands Holdings Inc. $DRVN

Key Points

• Interval Partners LP reduced its stake in Driven Brands Holdings Inc. by 11.7%, selling 101,996 shares and holding 769,401 shares valued at approximately $13.2 million at the end of Q1.
• Driven Brands recently reported a quarterly earnings per share of $0.36, exceeding analyst expectations and generating revenue of $550.99 million, resulting in a 6.2% increase year-over-year.
• Analysts have varying ratings on Driven Brands, with seven analysts rating it as a "Buy" and three as a "Hold," while the stock has an average target price of $21.60.

Interval Partners LP lowered its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 769,401 shares of the company's stock after selling 101,996 shares during the period. Interval Partners LP owned 0.47% of Driven Brands worth $13,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Driven Brands by 54.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company's stock worth $19,141,000 after purchasing an additional 416,744 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Driven Brands by 20.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,760 shares of the company's stock worth $384,000 after purchasing an additional 3,952 shares during the last quarter. Northern Trust Corp increased its position in Driven Brands by 7.0% in the fourth quarter. Northern Trust Corp now owns 578,215 shares of the company's stock worth $9,332,000 after purchasing an additional 37,959 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Driven Brands by 25.4% during the fourth quarter. Ameriprise Financial Inc. now owns 41,622 shares of the company's stock worth $672,000 after buying an additional 8,441 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in Driven Brands during the fourth quarter worth $205,000. Institutional investors own 77.08% of the company's stock.

Driven Brands Stock Down 1.1%

Shares of DRVN stock traded down $0.20 on Wednesday, hitting $18.30. The stock had a trading volume of 165,979 shares, compared to its average volume of 723,811. 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 business has a 50 day moving average price of $17.58 and a 200 day moving average price of $17.22. The company has a market cap of $3.01 billion, a PE ratio of -10.77, a P/E/G ratio of 1.14 and a beta of 1.09. Driven Brands Holdings Inc. has a one year low of $13.35 and a one year high of $19.74.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The firm had revenue of $550.99 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. Research analysts anticipate that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Driven Brands

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.