Savers Value Village (NYSE:SVV) Shares Up 13.4% After Better-Than-Expected Earnings

Shares of Savers Value Village, Inc. (NYSE:SVV) rose 13.4% on Friday following a stronger than expected earnings report. The company traded as high as $10.43 and last traded at $10.3180. Approximately 123,055 shares were traded during trading, a decline of 90% from the average daily volume of 1,243,561 shares. The stock had previously closed at $9.10.

The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $463.08 million for the quarter, compared to analyst estimates of $459.22 million. Savers Value Village had a return on equity of 14.58% and a net margin of 1.42%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Piper Sandler raised their price target on Savers Value Village from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings upgraded Savers Value Village from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, September 2nd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $11.00 price objective on shares of Savers Value Village in a research report on Friday, August 7th. JPMorgan Chase & Co. increased their target price on Savers Value Village from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company initiated coverage on shares of Savers Value Village in a report on Friday, September 18th. They set an “equal weight” rating and a $11.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.29.

Insider Buying and Selling

In other news, CEO Mark T. Walsh sold 92,059 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $11.93, for a total value of $1,098,263.87. Following the sale, the chief executive officer owned 47,363 shares of the company’s stock, valued at $565,040.59. The trade was a 66.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William T. Allen sold 26,151 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $9.22, for a total transaction of $241,112.22. Following the completion of the sale, the director directly owned 28,861 shares in the company, valued at approximately $266,098.42. This represents a 47.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 218,210 shares of company stock worth $2,559,376 over the last quarter. 3.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Savers Value Village

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new position in shares of Savers Value Village during the 2nd quarter worth about $33,000. State of Alaska Department of Revenue bought a new position in shares of Savers Value Village in the 3rd quarter valued at about $76,000. Royal Bank of Canada grew its holdings in shares of Savers Value Village by 801.5% in the 1st quarter. Royal Bank of Canada now owns 11,233 shares of the company’s stock valued at $83,000 after acquiring an additional 9,987 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Savers Value Village in the 1st quarter valued at about $90,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Savers Value Village in the second quarter valued at about $125,000. 98.78% of the stock is owned by institutional investors.

Savers Value Village Trading Up 14.0%

The company has a debt-to-equity ratio of 1.59, a current ratio of 0.84 and a quick ratio of 0.66. The business has a 50-day moving average of $9.55 and a 200-day moving average of $9.42. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 64.87 and a beta of 1.22.

About Savers Value Village

Savers Value Village, Inc operates a network of for-profit thrift stores in the United States, Canada and Australia. The company sells previously owned clothing, footwear, accessories, household goods, books and other merchandise through retail locations operating under banners that include Savers, Value Village, Unique and Village des Valeurs.

The company’s business model centers on sourcing secondhand goods through purchases from nonprofit organizations, individual donations and other channels.