Driven Brands Holdings Inc. $DRVN Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has decreased its stake in Driven Brands Holdings Inc. by 1.8%, now holding approximately 3.41% of the company, valued at $96.05 million.
• Analysts have mixed ratings on Driven Brands, with seven analysts rating it as a Buy and three as Hold; the average price target is $21.60.
• Driven Brands reported a revenue increase of 6.2% for the last quarter, reaching $550.99 million, and earnings per share of $0.36, surpassing analyst expectations.

Vanguard Group Inc. lowered its position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,603,969 shares of the company's stock after selling 104,461 shares during the quarter. Vanguard Group Inc. owned about 3.41% of Driven Brands worth $96,052,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DRVN. Bamco Inc. NY grew its holdings in shares of Driven Brands by 35.7% in the fourth quarter. Bamco Inc. NY now owns 4,750,000 shares of the company's stock valued at $76,665,000 after purchasing an additional 1,250,000 shares during the period. Norwood Investment Partners LP purchased a new stake in shares of Driven Brands in the first quarter valued at about $15,892,000. Dimensional Fund Advisors LP grew its holdings in shares of Driven Brands by 54.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company's stock valued at $19,141,000 after purchasing an additional 416,744 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Driven Brands in the first quarter valued at about $2,850,000. Finally, Seven Six Capital Management LLC purchased a new position in Driven Brands during the fourth quarter worth about $2,431,000. Hedge funds and other institutional investors own 77.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DRVN shares. JPMorgan Chase & Co. raised shares of Driven Brands from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $17.00 to $23.00 in a research note on Wednesday, August 6th. The Goldman Sachs Group started coverage on shares of Driven Brands in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $20.00 target price for the company. Canaccord Genuity Group increased their target price on shares of Driven Brands from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. BTIG Research started coverage on shares of Driven Brands in a research note on Monday, June 30th. They set a "buy" rating and a $22.00 target price for the company. Finally, Zacks Research raised shares of Driven Brands to a "hold" rating in a research note on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.60.

Driven Brands Stock Down 1.3%

Shares of DRVN traded down $0.23 during mid-day trading on Thursday, hitting $18.15. 548,325 shares of the company's stock were exchanged, compared to its average volume of 1,023,267. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -10.68, a P/E/G ratio of 1.11 and a beta of 1.08. Driven Brands Holdings Inc. has a fifty-two week low of $13.35 and a fifty-two week high of $18.76. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.01 and a current ratio of 1.11. The stock's 50-day moving average is $17.36 and its 200-day moving average is $17.05.

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, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $550.99 million for the quarter, compared to analysts' expectations of $540.12 million. Driven Brands had a negative net margin of 12.32% and a positive return on equity of 21.17%. The business's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. On average, sell-side analysts anticipate that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal 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.