Treasurer of the State of North Carolina Purchases 3,350 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Treasurer of the State of North Carolina increased its position in Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Rating) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,000 shares of the company’s stock after purchasing an additional 3,350 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Driven Brands were worth $737,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DRVN. Vanguard Group Inc. grew its position in shares of Driven Brands by 10.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,134,904 shares of the company’s stock worth $143,675,000 after buying an additional 488,919 shares during the period. Alliancebernstein L.P. lifted its holdings in Driven Brands by 17.4% in the third quarter. Alliancebernstein L.P. now owns 4,645,653 shares of the company’s stock valued at $129,985,000 after buying an additional 687,462 shares during the period. Neuberger Berman Group LLC boosted its stake in Driven Brands by 3.1% in the third quarter. Neuberger Berman Group LLC now owns 4,640,757 shares of the company’s stock valued at $129,848,000 after acquiring an additional 140,533 shares during the last quarter. Bain Capital Public Equity Management II LLC grew its holdings in Driven Brands by 3.8% during the 3rd quarter. Bain Capital Public Equity Management II LLC now owns 2,758,767 shares of the company’s stock worth $77,190,000 after acquiring an additional 101,909 shares during the period. Finally, Capital World Investors raised its position in shares of Driven Brands by 12.4% during the 1st quarter. Capital World Investors now owns 2,228,000 shares of the company’s stock valued at $58,552,000 after acquiring an additional 245,000 shares during the last quarter. 38.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

DRVN has been the topic of several recent research reports. Piper Sandler reduced their price target on Driven Brands from $41.00 to $40.00 in a research report on Friday, February 17th. Benchmark assumed coverage on Driven Brands in a research note on Thursday, January 26th. They issued a “buy” rating and a $40.00 price target for the company. Morgan Stanley lifted their price objective on shares of Driven Brands from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, February 23rd. Credit Suisse Group reaffirmed a “neutral” rating and issued a $31.00 target price on shares of Driven Brands in a research note on Thursday, February 23rd. Finally, Royal Bank of Canada lifted their price target on shares of Driven Brands from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, February 23rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.56.

Driven Brands Stock Down 2.6 %

Shares of DRVN stock opened at $26.38 on Monday. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 119.91, a P/E/G ratio of 3.92 and a beta of 0.81. The company has a quick ratio of 0.99, a current ratio of 1.14 and a debt-to-equity ratio of 1.66. Driven Brands Holdings Inc. has a 12-month low of $25.22 and a 12-month high of $35.45. The firm has a fifty day moving average of $29.17 and a 200-day moving average of $28.90.

Driven Brands (NASDAQ:DRVN – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $539.65 million during the quarter, compared to the consensus estimate of $550.19 million. Driven Brands had a net margin of 1.81% and a return on equity of 11.33%. As a group, equities research analysts predict that Driven Brands Holdings Inc. will post 1.13 earnings per share for the current fiscal year.

Driven Brands Profile

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Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. The company offers various services, such as paint, collision, glass, vehicle repair, car wash, oil change, and maintenance services.