North Peak Capital Management LLC Purchases 1,083,896 Shares of Driven Brands Holdings Inc. $DRVN

North Peak Capital Management LLC boosted its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 37.3% during the 4th quarter, Holdings Channel reports. The fund owned 3,990,850 shares of the company’s stock after acquiring an additional 1,083,896 shares during the quarter. Driven Brands makes up 5.0% of North Peak Capital Management LLC’s portfolio, making the stock its 6th biggest holding. North Peak Capital Management LLC’s holdings in Driven Brands were worth $59,144,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in DRVN. Osaic Holdings Inc. raised its holdings in Driven Brands by 82.1% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after acquiring an additional 941 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Driven Brands by 744.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after acquiring an additional 1,854 shares in the last quarter. Comerica Bank raised its holdings in Driven Brands by 328.8% in the fourth quarter. Comerica Bank now owns 2,933 shares of the company’s stock valued at $43,000 after acquiring an additional 2,249 shares in the last quarter. Larson Financial Group LLC raised its holdings in Driven Brands by 1,347.7% in the fourth quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock valued at $57,000 after acquiring an additional 3,558 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Driven Brands by 30.5% in the fourth quarter. Federated Hermes Inc. now owns 8,727 shares of the company’s stock valued at $129,000 after acquiring an additional 2,040 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Down 2.9%

DRVN stock opened at $13.43 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 2.45. Driven Brands Holdings Inc. has a twelve month low of $9.80 and a twelve month high of $19.74. The company’s 50 day moving average is $13.13 and its two-hundred day moving average is $13.93. The stock has a market cap of $2.22 billion, a P/E ratio of 11.99 and a beta of 0.97.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Thursday, June 11th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. Driven Brands had a net margin of 9.08% and a return on equity of 25.94%. The company had revenue of $484.44 million for the quarter, compared to analysts’ expectations of $480.84 million. During the same quarter last year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. Research analysts expect that Driven Brands Holdings Inc. will post 1.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on DRVN shares. Benchmark reaffirmed a “buy” rating on shares of Driven Brands in a report on Tuesday, May 26th. Robert W. Baird set a $18.00 target price on shares of Driven Brands and gave the company an “outperform” rating in a report on Wednesday, May 20th. Piper Sandler raised their price objective on shares of Driven Brands from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. BMO Capital Markets cut their price objective on shares of Driven Brands from $18.00 to $14.00 and set a “market perform” rating on the stock in a report on Thursday, May 21st. Finally, Zacks Research raised shares of Driven Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Driven Brands has a consensus rating of “Moderate Buy” and an average target price of $17.18.

Driven Brands News Summary

Here are the key news stories impacting Driven Brands this week:

• Positive Sentiment: Driven Brands beat Q1 earnings expectations, reporting $0.30 EPS versus the $0.25 consensus and revenue of $484.4 million, which helped support the stock. Earnings Report
• Positive Sentiment: BTIG Research reiterated a buy rating with a $17 price target, signaling confidence in further upside from current levels. BTIG Reiterates Buy
• Positive Sentiment: Royal Bank of Canada also maintained an outperform rating and set a $17 price target, even after lowering its target from $18, implying more room for the shares to rise. RBC Lowers Price Target
• Positive Sentiment: Management highlighted strength in Take 5 Oil Change and system-wide sales growth, with same-store sales up 2% and store count up 5%, supporting the company’s longer-term growth story. Q1 Results Press Release
• Neutral Sentiment: Some analysts and commentators remain cautious, pointing to debt, margin pressure, flat near-term earnings, and a cautious second-quarter outlook, which may limit enthusiasm despite the valuation discount. Seeking Alpha Commentary
• Negative Sentiment: Revenue growth missed the strongest expectations and was down year over year, keeping attention on whether Driven Brands can accelerate top-line momentum while also deleveraging. Zacks Earnings Call Takeaways

Driven Brands Company 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.