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

Quantinno Capital Management LP grew its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 69.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,770 shares of the company’s stock after buying 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 large investors have also recently modified their holdings of DRVN. nVerses Capital LLC purchased a new position in shares of Driven Brands in the third quarter worth $86,000. Innealta Capital LLC purchased a new position in shares of Driven Brands in the second quarter valued at about $86,000. Townsquare Capital LLC bought a new position in shares of Driven Brands during the third quarter valued at about $153,000. Bleakley Financial Group LLC bought a new stake in shares of Driven Brands in the third quarter worth about $171,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Driven Brands by 14.6% during the 1st 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.

Wall Street Analyst Weigh In

Several research firms have weighed in on DRVN. Royal Bank of Canada increased their price objective on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus boosted their price objective on shares of Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Canaccord Genuity Group upped their price objective on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of Driven Brands in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Driven Brands has a consensus rating of “Moderate Buy” and an average target price of $17.86.

Driven Brands Stock Performance

Driven Brands stock opened at $16.74 on Friday. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $17.45. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $2.75 billion, a P/E ratio of 418.50, a PEG ratio of 1.14 and a beta of 1.15. The stock’s 50 day moving average is $15.68 and its 200 day moving average is $14.05.

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

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.