Northern Trust Corp Has $10.45 Million Holdings in Driven Brands Holdings Inc. $DRVN

Key Points

• Northern Trust Corp increased its stake in Driven Brands Holdings Inc. by 5.4%, owning 609,645 shares valued at approximately $10.45 million as of the latest quarter.
• Driven Brands reported a quarterly earnings per share (EPS) of $0.36, surpassing expectations, and has provided a FY 2025 EPS guidance of 1.150-1.25.
• The stock price of Driven Brands is down 1.5%, with recent analyst ratings indicating a consensus "Moderate Buy" with an average target price of $21.60.

Northern Trust Corp boosted its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 609,645 shares of the company's stock after buying an additional 31,430 shares during the quarter. Northern Trust Corp owned approximately 0.37% of Driven Brands worth $10,449,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in Driven Brands during the first quarter worth approximately $2,850,000. Yorktown Management & Research Co Inc acquired a new stake in Driven Brands during the 1st quarter valued at $255,000. Informed Momentum Co LLC acquired a new stake in Driven Brands during the 1st quarter valued at $3,444,000. Russell Investments Group Ltd. lifted its holdings in Driven Brands by 11.7% during the 1st quarter. Russell Investments Group Ltd. now owns 191,435 shares of the company's stock valued at $3,281,000 after purchasing an additional 20,044 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Driven Brands by 27.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 113,515 shares of the company's stock valued at $1,832,000 after purchasing an additional 24,112 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company's stock.

Driven Brands Stock Down 1.5%

DRVN stock opened at $18.92 on Friday. 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 market capitalization of $3.11 billion, a price-to-earnings ratio of -11.13, a PEG ratio of 1.16 and a beta of 1.09. The business's fifty day moving average price is $17.54 and its two-hundred day moving average price is $17.16. Driven Brands Holdings Inc. has a fifty-two week low of $13.35 and a fifty-two week high of $19.74.

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 business had revenue of $550.99 million during 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% compared to the same quarter last year. 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. On average, equities analysts anticipate that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DRVN shares. BTIG Research started coverage on Driven Brands in a report on Monday, June 30th. They set a "buy" rating and a $22.00 price target for the company. Zacks Research raised Driven Brands to a "hold" rating in a report on Friday, August 8th. JPMorgan Chase & Co. raised Driven Brands from a "neutral" rating to an "overweight" rating and raised their price target for the company from $17.00 to $23.00 in a report on Wednesday, August 6th. Canaccord Genuity Group raised their price target on Driven Brands from $23.00 to $24.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, 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 price target for the company. 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 currently has an average rating of "Moderate Buy" and an average target price of $21.60.

Driven Brands Company 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.

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