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

Savers Value Village, Inc. (NYSE:SVV)’s stock price gapped up prior to trading 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 traded.

Analysts Set New Price Targets

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

Savers Value Village Stock Performance

The stock has a market cap of $1.67 billion, a P/E ratio of 25.39 and a beta of 1.65. The firm has a 50 day moving average of $9.77 and a two-hundred day moving average of $13.37. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.87 and a current ratio of 1.03.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Savers Value Village during the fourth quarter worth about $25,076,000. Russell Investments Group Ltd. bought a new stake in shares of Savers Value Village in the 1st quarter worth approximately $1,391,000. Alberta Investment Management Corp increased its position in shares of Savers Value Village by 345.3% during the fourth 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 during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Savers Value Village in the first quarter valued at $267,000. Finally, Lighthouse Investment Partners LLC bought a new position in Savers Value Village in the fourth quarter worth $2,607,000. Institutional investors 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.