Orchard Capital Management LLC purchased a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 131,785 shares of the company’s stock, valued at approximately $1,837,000. Driven Brands comprises approximately 1.8% of Orchard Capital Management LLC’s investment portfolio, making the stock its 25th largest holding.
A number of other hedge funds and other institutional investors have also modified their holdings of DRVN. North Peak Capital Management LLC grew its stake in Driven Brands by 37.3% in the 4th quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company’s stock worth $59,144,000 after acquiring an additional 1,083,896 shares during the period. Rangeley Capital LLC acquired a new stake in shares of Driven Brands during the first quarter worth $7,888,000. Rubric Capital Management LP purchased a new stake in shares of Driven Brands in the first quarter valued at $37,830,000. Conversant Capital LLC purchased a new stake in shares of Driven Brands in the first quarter valued at $12,610,000. Finally, Dimensional Fund Advisors LP increased its stake in Driven Brands by 9.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,362,430 shares of the company’s stock valued at $29,783,000 after purchasing an additional 200,788 shares during the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on DRVN. Canaccord Genuity Group set a $17.00 target price on Driven Brands in a research report on Friday, August 7th. Robert W. Baird set a $18.00 price objective on shares of Driven Brands and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Morgan Stanley set a $14.00 target price on shares of Driven Brands in a research report on Friday, August 7th. Benchmark restated a “buy” rating on shares of Driven Brands in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $14.75 price target on shares of Driven Brands in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.77.
Driven Brands Trading Up 1.0%
Shares of DRVN stock opened at $13.17 on Friday. The firm’s 50 day moving average price is $13.91 and its two-hundred day moving average price is $13.50. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 1.99. Driven Brands Holdings Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $19.74. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 12.66 and a beta of 0.95.
Driven Brands (NASDAQ:DRVN – Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The company reported $0.29 earnings per share (EPS) for the quarter. Driven Brands had a return on equity of 24.13% and a net margin of 8.61%. On average, analysts anticipate that Driven Brands Holdings Inc. will post 1.12 EPS for the current year.
Driven Brands Profile
Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.
Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.
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