Blair William & Co. IL bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 106,150 shares of the company’s stock, valued at approximately $2,698,000. Blair William & Co. IL owned approximately 0.71% of Driven Brands as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of DRVN. Federated Hermes Inc. purchased a new position in shares of Driven Brands in the first quarter worth about $3,178,000. Northern Trust Corp purchased a new position in Driven Brands in the 1st quarter worth approximately $4,671,000. Geode Capital Management LLC acquired a new position in shares of Driven Brands during the 1st quarter worth approximately $12,891,000. MYDA Advisors LLC acquired a new position in shares of Driven Brands during the 1st quarter worth approximately $1,068,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Driven Brands in the first quarter valued at approximately $95,985,000.
Several analysts have issued reports on the company. Zacks Investment Research cut Driven Brands from a “buy” rating to a “hold” rating in a report on Monday, May 10th. Morgan Stanley upped their price objective on shares of Driven Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Thursday, April 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Driven Brands from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Thursday, April 29th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Driven Brands has a consensus rating of “Buy” and an average price target of $35.33.
Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Tuesday, April 27th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. The company had revenue of $329.42 million during the quarter, compared to analysts’ expectations of $291.45 million. During the same period last year, the firm posted $0.08 earnings per share. Driven Brands’s revenue was up 82.9% on a year-over-year basis. As a group, analysts predict that Driven Brands Holdings Inc. will post 0.63 EPS for the current fiscal year.
Driven Brands Profile
Driven Brands Holdings Inc provides automotive services to retail and commercial customers in North America and internationally. It operates through Maintenance; Car Wash, Paint, Collision & Glass; and Platform Services segments. The company offers various services, such as paint, collision, refinishing, glass, vehicle repair, oil change, maintenance, and car wash services.
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