Edgestream Partners L.P. Buys 158,412 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Edgestream Partners L.P. lifted its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 247.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 222,525 shares of the company’s stock after acquiring an additional 158,412 shares during the period. Edgestream Partners L.P. owned 0.14% of Driven Brands worth $3,175,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC raised its stake in shares of Driven Brands by 396.7% in the 2nd quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock valued at $1,573,000 after acquiring an additional 98,662 shares in the last quarter. GSA Capital Partners LLP bought a new position in Driven Brands in the 3rd quarter worth approximately $697,000. Millrace Asset Group Inc. bought a new position in Driven Brands in the 3rd quarter worth approximately $1,420,000. Bank of New York Mellon Corp increased its position in shares of Driven Brands by 39.2% during the second quarter. Bank of New York Mellon Corp now owns 233,040 shares of the company’s stock valued at $2,967,000 after purchasing an additional 65,567 shares during the period. Finally, Bleakley Financial Group LLC bought a new stake in shares of Driven Brands during the third quarter valued at approximately $171,000. 77.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DRVN. Stifel Nicolaus boosted their price objective on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Benchmark restated a “buy” rating and set a $20.00 price objective on shares of Driven Brands in a research report on Tuesday, August 20th. Canaccord Genuity Group boosted their price target on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada boosted their price target on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.86.

Driven Brands Trading Down 0.1 %

DRVN stock opened at $16.85 on Monday. The company has a market cap of $2.77 billion, a P/E ratio of 421.25, a PEG ratio of 1.12 and a beta of 1.11. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $17.35. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The business has a fifty day moving average of $15.20 and a 200-day moving average of $13.66.

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