Wedmont Private Capital Raises Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Wedmont Private Capital lifted its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 2.2% in the third quarter, HoldingsChannel reports. The firm owned 38,047 shares of the company’s stock after acquiring an additional 834 shares during the period. Wedmont Private Capital’s holdings in Driven Brands were worth $537,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC grew its stake in Driven Brands by 396.7% in the 2nd quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock worth $1,573,000 after acquiring an additional 98,662 shares during the period. Bamco Inc. NY grew its stake in Driven Brands by 14.3% in the 1st quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock worth $31,580,000 after acquiring an additional 250,000 shares during the period. Edgestream Partners L.P. purchased a new stake in Driven Brands in the 2nd quarter worth approximately $816,000. Sei Investments Co. grew its stake in Driven Brands by 12.0% in the 1st quarter. Sei Investments Co. now owns 78,370 shares of the company’s stock worth $1,237,000 after acquiring an additional 8,372 shares during the period. Finally, Norden Group LLC purchased a new stake in Driven Brands in the 1st quarter worth approximately $182,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Stock Performance

NASDAQ:DRVN opened at $13.56 on Friday. 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 firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -2.89, a PEG ratio of 0.83 and a beta of 1.13. The firm’s fifty day simple moving average is $14.04 and its 200 day simple moving average is $13.29. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $16.00.

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

Analyst Ratings Changes

Several analysts have commented on DRVN shares. BMO Capital Markets started coverage on shares of Driven Brands in a research note on Monday, July 22nd. They issued a “market perform” rating and a $14.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Baird R W upgraded shares of Driven Brands to a “strong-buy” rating in a report on Friday, August 2nd. Benchmark reiterated a “buy” rating and issued a $20.00 price target on shares of Driven Brands in a report on Tuesday, August 20th. Finally, Robert W. Baird lifted their price target on shares of Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.95.

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.