Northern Trust Corp Buys 37,959 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Northern Trust Corp grew its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 578,215 shares of the company's stock after buying an additional 37,959 shares during the period. Northern Trust Corp owned approximately 0.35% of Driven Brands worth $9,332,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of Driven Brands by 600.5% during the 4th 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 period. LPL Financial LLC acquired a new position in shares of Driven Brands during the 4th quarter worth about $178,000. SBI Securities Co. Ltd. acquired a new position in shares of Driven Brands during the 4th quarter worth about $215,000. KLP Kapitalforvaltning AS acquired a new position in shares of Driven Brands during the 4th quarter worth about $216,000. Finally, SG Americas Securities LLC grew its position in shares of Driven Brands by 47.2% during the 4th quarter. SG Americas Securities LLC now owns 13,720 shares of the company's stock worth $221,000 after buying an additional 4,399 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler boosted their price objective on Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on Driven Brands in a research report on Thursday, March 13th. JPMorgan Chase & Co. boosted their price objective on Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Benchmark assumed coverage on Driven Brands in a research report on Friday, April 4th. They issued a "buy" rating and a $22.00 price objective for the company. Finally, Wall Street Zen lowered Driven Brands from a "buy" rating to a "hold" rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $20.78.

Driven Brands Stock Down 2.4%

NASDAQ:DRVN traded down $0.43 during trading hours on Friday, reaching $17.22. 625,718 shares of the stock were exchanged, compared to its average volume of 787,369. Driven Brands Holdings Inc. has a twelve month low of $10.71 and a twelve month high of $18.72. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The firm has a 50 day moving average of $16.96 and a 200 day moving average of $16.54. The stock has a market cap of $2.83 billion, a PE ratio of 430.50, a PEG ratio of 0.79 and a beta of 1.10.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company had revenue of $516.16 million for the quarter, compared to analysts' expectations of $492.19 million. During the same quarter in the prior year, the business posted $0.23 EPS. The business's revenue was up 7.1% compared to the same quarter last year. On average, equities analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

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.