Savers Value Village (NYSE:SVV) Shares Gap Up to $10.26

Savers Value Village, Inc. (NYSE:SVV) shares gapped up before the market opened on Friday . The stock had previously closed at $10.26, but opened at $10.50. Savers Value Village shares last traded at $10.50, with a volume of 84,596 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SVV. The Goldman Sachs Group downgraded shares of Savers Value Village from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $14.00 to $10.00 in a research note on Friday, August 9th. Piper Sandler cut their price target on shares of Savers Value Village from $13.00 to $11.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. downgraded shares of Savers Value Village from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $21.00 to $12.00 in a research note on Monday, July 22nd. Loop Capital cut their price target on shares of Savers Value Village from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Robert W. Baird cut their price target on shares of Savers Value Village from $21.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Savers Value Village has a consensus rating of “Moderate Buy” and a consensus target price of $12.20.

Savers Value Village Stock Performance

The stock’s 50 day simple moving average is $9.81 and its two-hundred day simple moving average is $13.49. The company has a market cap of $1.68 billion, a PE ratio of 25.02 and a beta of 1.65. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 1.75.

Savers Value Village (NYSE:SVV) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). Savers Value Village had a return on equity of 2.88% and a net margin of 2.47%. The business had revenue of $396.70 million during the quarter, compared to analyst estimates of $391.13 million. During the same period in the previous year, the company earned $0.22 EPS. Savers Value Village’s revenue was up 4.6% on a year-over-year basis. As a group, research analysts anticipate that Savers Value Village, Inc. will post 0.28 earnings per share for the current year.

Institutional Investors Weigh In On Savers Value Village

Large investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Savers Value Village in the fourth quarter worth $25,076,000. Russell Investments Group Ltd. acquired a new stake in Savers Value Village during the 1st quarter valued at $1,391,000. Alberta Investment Management Corp grew its holdings in Savers Value Village by 345.3% during the 4th quarter. Alberta Investment Management Corp now owns 206,564 shares of the company’s stock valued at $3,590,000 after purchasing an additional 160,176 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Savers Value Village during the 1st quarter valued at $267,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in Savers Value Village during the 4th quarter valued at $2,607,000. Institutional investors and hedge funds own 98.78% of the company’s stock.

About Savers Value Village

Savers Value Village, Inc sells second-hand merchandise in retail stores in the United States, Canada, and Australia. It operates stores under the Savers, Value Village, Value Village Boutique, Village des Valeurs, Unique, and 2nd Avenue brands. The company purchases secondhand textiles, including clothing, bedding, and bath items; shoes; accessories; housewares; books; and other goods from non-profit partners and then processes, selects, prices, merchandises, and sells them in its stores.