Rangeley Capital LLC Invests $694,000 in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Rangeley Capital LLC acquired a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,000 shares of the company’s stock, valued at approximately $694,000.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Driven Brands by 600.5% during the 4th quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock worth $148,000 after purchasing an additional 7,885 shares in the last quarter. Townsquare Capital LLC acquired a new position in shares of Driven Brands during the third quarter valued at about $153,000. LPL Financial LLC bought a new stake in shares of Driven Brands during the fourth quarter worth about $178,000. SBI Securities Co. Ltd. purchased a new stake in shares of Driven Brands in the fourth quarter valued at about $215,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Driven Brands in the 4th quarter worth about $216,000. Institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Performance

Shares of DRVN opened at $17.31 on Thursday. 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 company’s fifty day moving average price is $16.55 and its 200 day moving average price is $15.92. Driven Brands Holdings Inc. has a one year low of $10.59 and a one year high of $18.01. The company has a market capitalization of $2.84 billion, a PE ratio of 432.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.13.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business had revenue of $564.12 million during the quarter, compared to the consensus estimate of $572.95 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DRVN. BMO Capital Markets increased their price objective on Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Canaccord Genuity Group upped their target price on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Robert W. Baird set a $25.00 price target on shares of Driven Brands in a research report on Thursday, March 13th. JPMorgan Chase & Co. increased their price target on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Piper Sandler upped their price target on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.30.

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.