Intech Investment Management LLC Invests $245,000 in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Intech Investment Management LLC acquired a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 17,185 shares of the company’s stock, valued at approximately $245,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in shares of Driven Brands by 396.7% during the second quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock valued at $1,573,000 after buying an additional 98,662 shares during the period. GSA Capital Partners LLP purchased a new stake in Driven Brands in the third quarter valued at approximately $697,000. Edgestream Partners L.P. acquired a new position in Driven Brands during the second quarter worth approximately $816,000. Bank of New York Mellon Corp raised its stake in 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 worth $2,967,000 after purchasing an additional 65,567 shares during the period. Finally, Bleakley Financial Group LLC acquired a new position in shares of Driven Brands in the 3rd quarter valued at $171,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Performance

DRVN stock opened at $16.80 on Friday. The firm has a market cap of $2.76 billion, a P/E ratio of 420.00, a P/E/G ratio of 1.12 and a beta of 1.15. The stock’s 50 day simple moving average is $15.34 and its 200 day simple moving average is $13.78. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. Driven Brands Holdings Inc. has a 12-month low of $10.59 and a 12-month high of $17.35.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DRVN shares. Stifel Nicolaus increased their target price on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada raised their target price on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Driven Brands in a research report on Tuesday, August 20th. Finally, Canaccord Genuity Group boosted their price objective on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Driven Brands has a consensus rating of “Moderate Buy” and an average target price of $17.86.

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.