Driven Brands Holdings Inc. $DRVN Holdings Raised by Northern Trust Corp

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 increased its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 609,645 shares of the company's stock after acquiring an additional 31,430 shares during the period. Northern Trust Corp owned approximately 0.37% of Driven Brands worth $10,449,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DRVN. Summit Securities Group LLC bought a new position in shares of Driven Brands in the first quarter valued at approximately $72,000. XTX Topco Ltd acquired a new stake in Driven Brands during the first quarter valued at approximately $182,000. BNP Paribas Financial Markets bought a new stake in Driven Brands during the fourth quarter worth approximately $205,000. Moore Capital Management LP bought a new stake in Driven Brands during the fourth quarter worth approximately $242,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Driven Brands during the first quarter worth approximately $245,000. 77.08% of the stock is currently owned by institutional investors.

Driven Brands Trading Up 1.6%

Driven Brands stock traded up $0.30 during midday trading on Thursday, reaching $18.57. The stock had a trading volume of 642,080 shares, compared to its average volume of 910,233. The firm's fifty day simple moving average is $17.60 and its two-hundred day simple moving average is $17.25. Driven Brands Holdings Inc. has a twelve month low of $13.44 and a twelve month high of $19.74. 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 firm has a market cap of $3.05 billion, a price-to-earnings ratio of -10.92, a PEG ratio of 1.10 and a beta of 1.09.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BTIG Research assumed coverage on shares of Driven Brands in a report on Monday, June 30th. They set a "buy" rating and a $22.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Driven Brands in a report on Tuesday, June 3rd. They set a "neutral" rating and a $20.00 target price for the company. Zacks Research upgraded shares of Driven Brands to a "hold" rating in a report on Friday, August 8th. Wall Street Zen cut shares of Driven Brands from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Canaccord Genuity Group raised their target price 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. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.