Montag A & Associates Inc. Makes New Investment in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Montag A & Associates Inc. acquired a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 65,963 shares of the company's stock, valued at approximately $1,131,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DRVN. Covey Capital Advisors LLC purchased a new stake in Driven Brands in the first quarter worth about $647,000. Principal Financial Group Inc. bought a new position in Driven Brands in the first quarter worth about $2,850,000. Yorktown Management & Research Co Inc bought a new position in Driven Brands in the first quarter worth about $255,000. Handelsbanken Fonder AB increased its holdings in shares of Driven Brands by 23.9% during the first quarter. Handelsbanken Fonder AB now owns 30,100 shares of the company's stock valued at $516,000 after acquiring an additional 5,800 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Driven Brands by 25.3% during the first quarter. SG Americas Securities LLC now owns 17,194 shares of the company's stock valued at $295,000 after acquiring an additional 3,474 shares in the last quarter. Institutional investors own 77.08% of the company's stock.

Driven Brands Stock Down 2.0%

Shares of DRVN traded down $0.35 during midday trading on Thursday, hitting $17.14. The company had a trading volume of 85,463 shares, compared to its average volume of 673,079. The company's 50-day simple moving average is $17.59 and its 200-day simple moving average is $16.84. The firm has a market capitalization of $2.82 billion, a P/E ratio of -9.47, a P/E/G ratio of 0.99 and a beta of 1.09. Driven Brands Holdings Inc. has a 1 year low of $12.67 and a 1 year high of $18.72. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.33 and a current ratio of 1.47.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.04. Driven Brands had a positive return on equity of 19.61% and a negative net margin of 12.75%. The business had revenue of $516.16 million for the quarter, compared to analyst estimates of $492.19 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DRVN. Canaccord Genuity Group increased their price target on shares of Driven Brands from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Friday, June 27th. The Goldman Sachs Group began coverage on shares of Driven Brands in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $20.00 price target on the stock. Wall Street Zen upgraded Driven Brands from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Benchmark began coverage on Driven Brands in a research report on Friday, April 4th. They issued a "buy" rating and a $22.00 price objective on the stock. Finally, 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. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $21.00.

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.