Rangeley Capital LLC Purchases Shares of 43,000 Driven Brands Holdings Inc. (NASDAQ:DRVN)

Rangeley Capital LLC acquired a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) during the fourth quarter, HoldingsChannel reports. The fund acquired 43,000 shares of the company’s stock, valued at approximately $694,000.

Other large investors have also recently modified their holdings of the company. Alliancebernstein L.P. boosted its stake in Driven Brands by 8.5% during the fourth quarter. Alliancebernstein L.P. now owns 78,731 shares of the company’s stock worth $1,271,000 after acquiring an additional 6,200 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Driven Brands by 687.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 114,327 shares of the company’s stock worth $1,845,000 after buying an additional 99,811 shares in the last quarter. Norges Bank bought a new position in Driven Brands in the 4th quarter worth $1,742,000. Vanguard Group Inc. grew its holdings in Driven Brands by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company’s stock valued at $92,134,000 after buying an additional 31,431 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of Driven Brands in the fourth quarter worth about $178,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Trading Up 3.4 %

Shares of NASDAQ DRVN opened at $17.31 on Thursday. Driven Brands Holdings Inc. has a 52-week low of $10.59 and a 52-week high of $18.01. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. The firm has a 50 day moving average price of $16.55 and a two-hundred day moving average price of $15.92. The stock has a market cap of $2.84 billion, a P/E ratio of 432.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.13.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. The business had revenue of $564.12 million for the quarter, compared to the consensus estimate of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. Driven Brands’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 earnings per share. As a group, equities analysts forecast that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group increased their price objective on shares of Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Piper Sandler upped their price target on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price objective on Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Robert W. Baird set a $25.00 target price on shares of Driven Brands in a research note on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, seven have assigned 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 $20.30.

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.