First Trust Advisors LP Raises Stock Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

First Trust Advisors LP lifted its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 130.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,359 shares of the company's stock after acquiring an additional 96,850 shares during the quarter. First Trust Advisors LP owned about 0.10% of Driven Brands worth $2,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of Driven Brands by 600.5% in 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 period. LPL Financial LLC purchased a new position in Driven Brands in the 4th quarter worth approximately $178,000. SBI Securities Co. Ltd. acquired a new stake in Driven Brands in the fourth quarter valued at approximately $215,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Driven Brands during the fourth quarter valued at approximately $216,000. Finally, SG Americas Securities LLC boosted its stake in shares of Driven Brands by 47.2% in the fourth 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. 77.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on DRVN. Canaccord Genuity Group upped their price objective on shares of Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. BMO Capital Markets increased their target price on Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a research note on Wednesday, February 26th. Piper Sandler lifted their price target on shares of Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Benchmark initiated coverage on shares of Driven Brands in a report on Friday, April 4th. They set a "buy" rating and a $22.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Driven Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.

Driven Brands Stock Performance

Shares of DRVN stock opened at $17.13 on Monday. Driven Brands Holdings Inc. has a 12-month low of $10.64 and a 12-month high of $18.01. 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 market capitalization of $2.81 billion, a price-to-earnings ratio of 428.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.10. The business has a 50 day simple moving average of $16.57 and a 200 day simple moving average of $16.21.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm had revenue of $564.12 million during the quarter, compared to analyst estimates of $572.95 million. During the same quarter in the prior year, the firm posted $0.19 EPS. Driven Brands's revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS 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.

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