Janus Henderson Group PLC Cuts Stock Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Janus Henderson Group PLC cut its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,702,305 shares of the company’s stock after selling 74,010 shares during the quarter. Janus Henderson Group PLC owned approximately 1.65% of Driven Brands worth $42,670,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Norges Bank purchased a new position in Driven Brands during the 4th quarter valued at about $18,583,000. Hood River Capital Management LLC bought a new position in Driven Brands in the 1st quarter valued at approximately $13,323,000. Bamco Inc. NY lifted its position in Driven Brands by 14.3% in the 1st quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock valued at $31,580,000 after acquiring an additional 250,000 shares in the last quarter. Kestrel Investment Management Corp bought a new stake in shares of Driven Brands in the 4th quarter worth $3,067,000. Finally, First Eagle Investment Management LLC bought a new stake in shares of Driven Brands in the 1st quarter worth $3,367,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Driven Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $12.50 in a report on Friday, May 3rd. BMO Capital Markets started coverage on Driven Brands in a report on Monday, July 22nd. They set a “market perform” rating and a $14.00 price target on the stock. Canaccord Genuity Group cut their price objective on Driven Brands from $21.00 to $17.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Piper Sandler lowered their target price on Driven Brands from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, The Goldman Sachs Group cut their price target on Driven Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.25.

Driven Brands Price Performance

DRVN stock traded up $0.28 during trading on Wednesday, reaching $13.46. The company had a trading volume of 429,627 shares, compared to its average volume of 1,282,454. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 3.20. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $26.05. The firm has a 50-day simple moving average of $12.18 and a 200-day simple moving average of $13.20.

Driven Brands (NASDAQ:DRVN) last issued its earnings results on Thursday, May 2nd. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $572.23 million for the quarter, compared to analyst estimates of $584.31 million. Driven Brands had a positive return on equity of 12.08% and a negative net margin of 33.30%. Equities research analysts forecast that Driven Brands Holdings Inc. will post 0.87 earnings per share for the current 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.