Quantinno Capital Management LP Buys 28,574 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Quantinno Capital Management LP increased its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 69.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,770 shares of the company’s stock after purchasing an additional 28,574 shares during the quarter. Quantinno Capital Management LP’s holdings in Driven Brands were worth $996,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of Driven Brands in the second quarter valued at $86,000. nVerses Capital LLC purchased a new stake in Driven Brands during the third quarter valued at about $86,000. Townsquare Capital LLC bought a new position in Driven Brands during the third quarter worth about $153,000. Bleakley Financial Group LLC purchased a new position in shares of Driven Brands in the third quarter worth about $171,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Driven Brands by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock valued at $219,000 after purchasing an additional 1,758 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Price Performance

DRVN stock opened at $16.74 on Friday. The firm has a 50 day simple moving average of $15.68 and a two-hundred day simple moving average of $14.05. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The stock has a market cap of $2.75 billion, a PE ratio of 418.50, a P/E/G ratio of 1.14 and a beta of 1.15. Driven Brands Holdings Inc. has a one year low of $10.59 and a one year high of $17.45.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $591.70 million for the quarter, compared to the consensus estimate of $598.49 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share. On average, analysts predict that Driven Brands Holdings Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group boosted their price objective on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Benchmark restated a “buy” rating and issued a $20.00 target price on shares of Driven Brands in a research note on Tuesday, August 20th. Finally, Stifel Nicolaus upped their price target on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Four investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.86.

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.