Driven Brands Holdings Inc. (NASDAQ:DRVN) Holdings Decreased by Creative Planning

Creative Planning lowered its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 41.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,394 shares of the company’s stock after selling 21,457 shares during the quarter. Creative Planning’s holdings in Driven Brands were worth $387,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Driven Brands in the first quarter valued at $26,000. GAMMA Investing LLC raised its position in Driven Brands by 49.3% during the first quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock valued at $43,000 after buying an additional 904 shares during the period. Innealta Capital LLC purchased a new position in Driven Brands in the second quarter valued at about $86,000. Wedmont Private Capital purchased a new position in Driven Brands in the first quarter valued at about $159,000. Finally, Norden Group LLC purchased a new position in Driven Brands in the first quarter valued at about $182,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Performance

Shares of Driven Brands stock opened at $14.73 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.91 and a debt-to-equity ratio of 3.03. The business has a 50-day moving average price of $14.11 and a two-hundred day moving average price of $13.25. The company has a market cap of $2.42 billion, a P/E ratio of -3.16, a PEG ratio of 0.83 and a beta of 1.13. Driven Brands Holdings Inc. has a 1-year low of $10.59 and a 1-year high of $16.00.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. Driven Brands had a positive return on equity of 15.12% and a negative net margin of 33.56%. The business had revenue of $611.60 million during the quarter, compared to the consensus estimate of $628.34 million. During the same quarter in the previous year, the business earned $0.27 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, analysts anticipate that Driven Brands Holdings Inc. will post 0.88 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Benchmark restated a “buy” rating and set a $20.00 target price on shares of Driven Brands in a research note on Tuesday, August 20th. Piper Sandler reissued an “overweight” rating and issued a $17.00 target price (up from $14.00) on shares of Driven Brands in a report on Friday, August 2nd. Robert W. Baird lifted their price objective on Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their target price on Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lifted their price objective on Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Driven Brands has an average rating of “Moderate Buy” and an average price target of $16.95.

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.