Vanguard Group Inc. Has $96.05 Million Stock Position in Driven Brands Holdings Inc. $DRVN

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. reduced its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,603,969 shares of the company's stock after selling 104,461 shares during the period. Vanguard Group Inc. owned approximately 3.41% of Driven Brands worth $96,052,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Driven Brands by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,104 shares of the company's stock valued at $550,000 after purchasing an additional 1,079 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Driven Brands by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 37,161 shares of the company's stock worth $600,000 after buying an additional 2,003 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Driven Brands by 25.3% during the first quarter. SG Americas Securities LLC now owns 17,194 shares of the company's stock worth $295,000 after buying an additional 3,474 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Driven Brands by 5.5% during the fourth quarter. Legal & General Group Plc now owns 73,791 shares of the company's stock worth $1,191,000 after buying an additional 3,833 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Driven Brands by 20.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,760 shares of the company's stock worth $384,000 after buying an additional 3,952 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DRVN shares. Wall Street Zen cut shares of Driven Brands from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. 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 on the stock. JPMorgan Chase & Co. raised shares of Driven Brands from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $17.00 to $23.00 in a research note on Wednesday, August 6th. Zacks Research raised shares of Driven Brands to a "hold" rating in a research note on Friday, August 8th. Finally, Canaccord Genuity Group boosted 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. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Driven Brands currently has an average rating of "Moderate Buy" and an average price target of $21.60.

Driven Brands Stock Up 6.2%

Shares of NASDAQ:DRVN opened at $18.25 on Friday. The firm has a market cap of $3.00 billion, a P/E ratio of -10.74, a P/E/G ratio of 1.03 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 2.82. Driven Brands Holdings Inc. has a 12-month low of $13.35 and a 12-month high of $18.72. The business has a fifty day simple moving average of $17.26 and a 200 day simple moving average of $16.99.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its 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 during the quarter, compared to analyst estimates of $540.12 million. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.Driven Brands's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. Analysts predict that Driven Brands Holdings Inc. will post 0.85 earnings per share 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.

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