Public Employees Retirement System of Ohio Has $319,000 Stock Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Public Employees Retirement System of Ohio trimmed its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 10.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,308 shares of the company’s stock after selling 2,804 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Driven Brands were worth $319,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Man Group plc boosted its stake in shares of Driven Brands by 1.0% during the fourth quarter. Man Group plc now owns 42,403 shares of the company’s stock valued at $1,158,000 after purchasing an additional 439 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Driven Brands by 54.8% during the third quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock valued at $44,000 after purchasing an additional 552 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Driven Brands by 1.6% during the second quarter. Legal & General Group Plc now owns 40,032 shares of the company’s stock valued at $1,103,000 after purchasing an additional 637 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Driven Brands by 8.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,680 shares of the company’s stock worth $294,000 after acquiring an additional 740 shares during the period. Finally, Citigroup Inc. lifted its stake in shares of Driven Brands by 18.6% in the first quarter. Citigroup Inc. now owns 6,598 shares of the company’s stock worth $173,000 after acquiring an additional 1,034 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DRVN. Royal Bank of Canada cut their price objective on Driven Brands from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. JPMorgan Chase & Co. cut their price objective on Driven Brands from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Piper Sandler lowered their target price on Driven Brands from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Morgan Stanley downgraded Driven Brands from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $14.00 in a report on Tuesday, January 16th. Finally, Canaccord Genuity Group lifted their target price on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

Driven Brands Trading Up 5.6 %

NASDAQ DRVN opened at $15.65 on Thursday. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -3.46, a P/E/G ratio of 0.94 and a beta of 1.15. Driven Brands Holdings Inc. has a 52 week low of $10.60 and a 52 week high of $31.47. The business has a 50 day moving average price of $13.91 and a 200-day moving average price of $13.15. The company has a quick ratio of 1.73, a current ratio of 1.92 and a debt-to-equity ratio of 3.21.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Driven Brands had a positive return on equity of 11.00% and a negative net margin of 32.33%. The business had revenue of $553.70 million during the quarter, compared to the consensus estimate of $572.92 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. Driven Brands’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts expect that Driven Brands Holdings Inc. will post 0.89 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.