Sally Beauty Holdings, Inc. (NYSE:SBH) was the target of a large increase in short interest during the month of October. As of October 13th, there was short interest totalling 19,296,803 shares, an increase of 22.2% from the September 29th total of 15,795,302 shares. Currently, 14.8% of the shares of the company are sold short. Based on an average daily trading volume, of 2,163,041 shares, the short-interest ratio is currently 8.9 days.
SBH has been the subject of several recent research reports. KeyCorp restated a “hold” rating on shares of Sally Beauty Holdings in a research report on Monday, October 16th. Wells Fargo & Company reiterated a “market perform” rating and set a $20.00 price objective (down from $21.50) on shares of Sally Beauty Holdings in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Sally Beauty Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, October 21st. BMO Capital Markets set a $21.00 target price on shares of Sally Beauty Holdings and gave the stock a “hold” rating in a research note on Saturday, August 5th. Finally, DA Davidson reissued a “neutral” rating and set a $21.00 target price (down from $23.00) on shares of Sally Beauty Holdings in a research note on Friday, September 8th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.00.
In other news, Director Edward W. Rabin purchased 4,250 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was bought at an average price of $18.06 per share, with a total value of $76,755.00. Following the acquisition, the director now owns 16,653 shares in the company, valued at approximately $300,753.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christian A. Brickman acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was bought at an average cost of $17.90 per share, with a total value of $179,000.00. Following the purchase, the chief executive officer now owns 172,543 shares in the company, valued at $3,088,519.70. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 34,250 shares of company stock worth $606,555. 0.97% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of SBH. BlackRock Inc. grew its stake in Sally Beauty Holdings by 13,327.3% during the first quarter. BlackRock Inc. now owns 11,424,731 shares of the specialty retailer’s stock valued at $233,521,000 after acquiring an additional 11,339,645 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Sally Beauty Holdings during the second quarter valued at approximately $179,760,000. Burgundy Asset Management Ltd. bought a new stake in Sally Beauty Holdings during the second quarter valued at approximately $51,787,000. Balyasny Asset Management LLC lifted its position in Sally Beauty Holdings by 3,189.1% during the second quarter. Balyasny Asset Management LLC now owns 1,849,439 shares of the specialty retailer’s stock valued at $37,451,000 after purchasing an additional 1,793,210 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in Sally Beauty Holdings during the second quarter valued at approximately $24,431,000.
Sally Beauty Holdings (NYSE SBH) opened at $16.21 on Friday. The firm has a market cap of $2,129.57, a PE ratio of 9.21, a PEG ratio of 1.46 and a beta of 0.66. The company has a debt-to-equity ratio of -5.07, a current ratio of 2.18 and a quick ratio of 0.43. Sally Beauty Holdings has a 12 month low of $14.22 and a 12 month high of $30.17.
Sally Beauty Holdings declared that its Board of Directors has approved a stock repurchase plan on Thursday, August 31st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 40.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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Sally Beauty Holdings Company Profile
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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