Norwood Investment Partners LP Purchases New Shares in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Norwood Investment Partners LP bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 927,200 shares of the company's stock, valued at approximately $15,892,000. Driven Brands makes up approximately 14.2% of Norwood Investment Partners LP's investment portfolio, making the stock its biggest position. Norwood Investment Partners LP owned 0.56% of Driven Brands as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DRVN. Proficio Capital Partners LLC purchased a new position in Driven Brands in the 4th quarter worth approximately $375,000. American Century Companies Inc. lifted its stake in Driven Brands by 34.5% during the fourth quarter. American Century Companies Inc. now owns 88,600 shares of the company's stock worth $1,430,000 after purchasing an additional 22,703 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Driven Brands during the fourth quarter worth $216,000. LPL Financial LLC bought a new position in Driven Brands during the fourth quarter worth $178,000. Finally, Vanguard Group Inc. lifted its stake in Driven Brands by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company's stock worth $92,134,000 after purchasing an additional 31,431 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Driven Brands from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. The Goldman Sachs Group initiated coverage on Driven Brands in a report on Tuesday, June 3rd. They set a "neutral" rating and a $20.00 price target on the stock. 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. Benchmark initiated coverage on Driven Brands in a report on Friday, April 4th. They set a "buy" rating and a $22.00 price target on the stock. Finally, BTIG Research initiated coverage on Driven Brands in a report on Monday, June 30th. They set a "buy" rating and a $22.00 price target on the stock. Three equities research 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Driven Brands Price Performance

NASDAQ:DRVN traded up $0.01 during mid-day trading on Friday, reaching $17.10. 381,731 shares of the stock were exchanged, compared to its average volume of 594,067. The business has a fifty day moving average price of $17.54 and a 200 day moving average price of $16.87. The firm has a market capitalization of $2.81 billion, a PE ratio of -9.45, a PEG ratio of 0.98 and a beta of 1.09. Driven Brands Holdings Inc. has a 1-year low of $12.73 and a 1-year high of $18.72. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 4.07.

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, topping analysts' consensus estimates of $0.23 by $0.04. The firm had revenue of $516.16 million for the quarter, compared to analyst estimates of $492.19 million. Driven Brands had a positive return on equity of 19.61% and a negative net margin of 12.75%. Driven Brands's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. Research analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal 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.