Northern Trust Corp Has $9.33 Million Stake in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Northern Trust Corp boosted its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 578,215 shares of the company's stock after purchasing an additional 37,959 shares during the quarter. Northern Trust Corp owned about 0.35% of Driven Brands worth $9,332,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Driven Brands by 600.5% during the fourth quarter. Blue Trust Inc. now owns 9,198 shares of the company's stock worth $148,000 after buying an additional 7,885 shares during the last quarter. LPL Financial LLC bought a new position in Driven Brands during the fourth quarter worth $178,000. SBI Securities Co. Ltd. acquired a new position in Driven Brands during the 4th quarter valued at $215,000. KLP Kapitalforvaltning AS bought a new stake in Driven Brands in the 4th quarter valued at $216,000. Finally, SG Americas Securities LLC boosted its holdings in Driven Brands by 47.2% in the 4th quarter. SG Americas Securities LLC now owns 13,720 shares of the company's stock valued at $221,000 after purchasing an additional 4,399 shares during the period. Institutional investors and hedge funds own 77.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DRVN shares. Piper Sandler boosted their price objective on shares of Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Benchmark began coverage on Driven Brands in a research note on Friday, April 4th. They set a "buy" rating and a $22.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. BMO Capital Markets lifted their price objective on Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group boosted their price objective on Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $20.78.

Driven Brands Price Performance

NASDAQ DRVN traded down $0.54 during trading on Wednesday, reaching $17.85. 493,068 shares of the company traded hands, compared to its average volume of 804,616. Driven Brands Holdings Inc. has a 1-year low of $10.64 and a 1-year high of $18.72. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 446.25, a P/E/G ratio of 0.79 and a beta of 1.10. The stock's 50 day moving average price is $16.94 and its two-hundred day moving average price is $16.50. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90.

Driven Brands (NASDAQ:DRVN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business had revenue of $516.16 million during the quarter, compared to the consensus estimate of $492.19 million. During the same quarter last year, the company earned $0.23 EPS. Driven Brands's revenue was up 7.1% on a year-over-year basis. As a group, analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current 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.