Sally Beauty Holdings, Inc. (NYSE:SBH)‘s stock had its “hold” rating reiterated by KeyCorp in a report released on Monday, October 16th.
A number of other analysts have also commented on the company. DA Davidson upgraded Sally Beauty Holdings from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Monday, October 16th. Cowen and Company reiterated a “buy” rating and set a $24.00 target price on shares of Sally Beauty Holdings in a report on Thursday, September 28th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Sally Beauty Holdings in a report on Wednesday, September 13th. BidaskClub downgraded Sally Beauty Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $20.00 target price (down previously from $21.50) on shares of Sally Beauty Holdings in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Sally Beauty Holdings presently has an average rating of “Hold” and an average price target of $23.67.
Sally Beauty Holdings (SBH) opened at 17.57 on Monday. The firm has a market cap of $2.33 billion, a P/E ratio of 10.73 and a beta of 0.70. Sally Beauty Holdings has a 1-year low of $16.36 and a 1-year high of $30.17. The stock’s 50 day moving average price is $19.13 and its 200 day moving average price is $19.31.
Sally Beauty Holdings (NYSE:SBH) last posted its earnings results on Thursday, August 3rd. The specialty retailer reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The firm had revenue of $998.04 million for the quarter, compared to analyst estimates of $1 billion. Sally Beauty Holdings had a negative return on equity of 80.60% and a net margin of 5.89%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. Equities research analysts predict that Sally Beauty Holdings will post $1.82 EPS for the current year.
Sally Beauty Holdings announced that its board has authorized a share buyback plan on Thursday, August 31st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 40.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
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In other Sally Beauty Holdings news, CEO Christian A. Brickman purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was purchased at an average cost of $17.54 per share, for a total transaction of $350,800.00. Following the acquisition, the chief executive officer now owns 182,543 shares in the company, valued at approximately $3,201,804.22. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward W. Rabin bought 4,250 shares of Sally Beauty Holdings stock in a transaction dated Monday, August 21st. The stock was purchased at an average price of $18.06 per share, with a total value of $76,755.00. Following the completion of the purchase, the director now owns 16,653 shares in the company, valued at $300,753.18. The disclosure for this purchase can be found here. Insiders purchased 34,250 shares of company stock valued at $606,555 over the last 90 days. 0.97% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the business. M&T Bank Corp lifted its position in shares of Sally Beauty Holdings by 0.6% during the 2nd quarter. M&T Bank Corp now owns 10,373 shares of the specialty retailer’s stock worth $210,000 after buying an additional 65 shares in the last quarter. Scotia Capital Inc. raised its holdings in shares of Sally Beauty Holdings by 0.9% in the 2nd quarter. Scotia Capital Inc. now owns 22,550 shares of the specialty retailer’s stock worth $457,000 after purchasing an additional 200 shares during the period. Advantus Capital Management Inc raised its holdings in shares of Sally Beauty Holdings by 2.7% in the 1st quarter. Advantus Capital Management Inc now owns 18,381 shares of the specialty retailer’s stock worth $376,000 after purchasing an additional 481 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Sally Beauty Holdings by 0.6% in the 2nd quarter. Alliancebernstein L.P. now owns 88,272 shares of the specialty retailer’s stock worth $1,788,000 after purchasing an additional 490 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sally Beauty Holdings by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the specialty retailer’s stock worth $110,000 after purchasing an additional 559 shares during the period.
About Sally Beauty Holdings
Sally Beauty Holdings, Inc is an international specialty retailer and distributor of professional beauty supplies with operations primarily in North America, South America and Europe. The Company operates through two business segments: Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty Supply is a domestic and international chain of cash and carry retail stores, which offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America.
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