Invesco Ltd. Purchases 18,277 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Invesco Ltd. grew its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 14.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 143,117 shares of the company's stock after purchasing an additional 18,277 shares during the period. Invesco Ltd. owned 0.09% of Driven Brands worth $2,310,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DRVN. Russell Investments Group Ltd. boosted its position in Driven Brands by 186.3% during the 4th quarter. Russell Investments Group Ltd. now owns 171,391 shares of the company's stock valued at $2,766,000 after purchasing an additional 111,519 shares during the period. Wells Fargo & Company MN lifted its stake in Driven Brands by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 34,722 shares of the company's stock valued at $560,000 after buying an additional 8,909 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Driven Brands during the fourth quarter valued at $230,000. Rangeley Capital LLC bought a new position in shares of Driven Brands during the fourth quarter worth about $694,000. Finally, Alliancebernstein L.P. increased its holdings in shares of Driven Brands by 8.5% in the 4th quarter. Alliancebernstein L.P. now owns 78,731 shares of the company's stock worth $1,271,000 after acquiring an additional 6,200 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on DRVN. Canaccord Genuity Group upped their target price on shares of Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on Driven Brands in a report on Thursday, March 13th. JPMorgan Chase & Co. boosted their price target on Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Piper Sandler raised their target price on Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Benchmark assumed coverage on shares of Driven Brands in a research report on Friday, April 4th. They issued a "buy" rating and a $22.00 price target on the stock. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Driven Brands has an average rating of "Moderate Buy" and an average price target of $20.50.

Driven Brands Trading Up 2.3 %

DRVN stock traded up $0.39 during mid-day trading on Friday, reaching $17.13. 949,170 shares of the stock traded hands, compared to its average volume of 828,579. Driven Brands Holdings Inc. has a 52-week low of $10.64 and a 52-week high of $18.01. The stock's fifty day moving average is $16.57 and its 200-day moving average is $16.20. The company has a market cap of $2.81 billion, a P/E ratio of 428.25, a P/E/G ratio of 0.79 and a beta of 1.09. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business had revenue of $564.12 million during the quarter, compared to the consensus estimate of $572.95 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm's quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side 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.