Wedmont Private Capital Makes New $159,000 Investment in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Wedmont Private Capital acquired a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) in the 1st quarter, HoldingsChannel reports. The firm acquired 10,458 shares of the company’s stock, valued at approximately $159,000.

A number of other institutional investors also recently modified their holdings of DRVN. GAMMA Investing LLC increased its holdings in Driven Brands by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock valued at $43,000 after purchasing an additional 904 shares in the last quarter. Quent Capital LLC increased its stake in shares of Driven Brands by 17.1% in the fourth quarter. Quent Capital LLC now owns 8,921 shares of the company’s stock valued at $127,000 after buying an additional 1,304 shares in the last quarter. Swiss National Bank raised its holdings in shares of Driven Brands by 1.0% in the third quarter. Swiss National Bank now owns 147,300 shares of the company’s stock valued at $1,855,000 after buying an additional 1,500 shares during the last quarter. Lindbrook Capital LLC lifted its position in Driven Brands by 126.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock worth $41,000 after buying an additional 1,594 shares in the last quarter. Finally, CWM LLC grew its holdings in Driven Brands by 16.8% during the 4th quarter. CWM LLC now owns 15,486 shares of the company’s stock worth $221,000 after acquiring an additional 2,226 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

DRVN has been the topic of a number of research reports. Royal Bank of Canada reduced their target price on shares of Driven Brands from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. JPMorgan Chase & Co. lowered Driven Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $12.50 in a research report on Friday, May 3rd. The Goldman Sachs Group dropped their target price on Driven Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Barclays decreased their price target on Driven Brands from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Finally, Piper Sandler reduced their target price on shares of Driven Brands from $18.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.61.

Driven Brands Stock Up 3.9 %

Driven Brands stock opened at $11.99 on Monday. Driven Brands Holdings Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $27.65. The company has a debt-to-equity ratio of 3.20, a current ratio of 1.86 and a quick ratio of 1.67. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -2.57, a PEG ratio of 0.68 and a beta of 1.10. The company’s 50 day simple moving average is $12.16 and its 200 day simple moving average is $13.35.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $572.23 million during the quarter, compared to analysts’ expectations of $584.31 million. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 12.08%. As a group, sell-side analysts anticipate that Driven Brands Holdings Inc. will post 0.87 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.