North Peak Capital Management LLC Buys 95,529 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

North Peak Capital Management LLC grew its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,299,000 shares of the company’s stock after purchasing an additional 95,529 shares during the period. Driven Brands comprises approximately 10.6% of North Peak Capital Management LLC’s investment portfolio, making the stock its 4th largest holding. North Peak Capital Management LLC owned 3.23% of Driven Brands worth $75,617,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in shares of Driven Brands during the 3rd quarter worth about $245,000. GSA Capital Partners LLP acquired a new position in Driven Brands in the 3rd quarter worth about $697,000. Versor Investments LP purchased a new position in Driven Brands during the third quarter worth approximately $303,000. Bleakley Financial Group LLC acquired a new stake in Driven Brands in the third quarter valued at approximately $171,000. Finally, nVerses Capital LLC purchased a new stake in shares of Driven Brands in the third quarter valued at approximately $86,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DRVN. Piper Sandler reissued an “overweight” rating and issued a $17.00 price target (up previously from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Robert W. Baird lifted their target price on shares of Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Benchmark restated a “buy” rating and set a $20.00 price target on shares of Driven Brands in a research report on Tuesday, August 20th. Canaccord Genuity Group raised their price target on shares of Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group boosted their price objective on Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Driven Brands presently has a consensus rating of “Moderate Buy” and an average target price of $17.86.

Driven Brands Price Performance

NASDAQ:DRVN opened at $17.04 on Tuesday. The stock has a 50 day moving average price of $15.03 and a 200 day moving average price of $13.52. The stock has a market cap of $2.80 billion, a PE ratio of 426.00, a P/E/G ratio of 1.11 and a beta of 1.11. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. Driven Brands Holdings Inc. has a one year low of $10.59 and a one year high of $17.35.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm had revenue of $591.70 million for the quarter, compared to analysts’ expectations of $598.49 million. During the same quarter in the previous year, the company posted $0.19 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts expect that Driven Brands Holdings Inc. will post 0.86 EPS for the current fiscal 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.