Sally Beauty Holdings, Inc. (NYSE:SBH) has been assigned an average rating of “Hold” from the eighteen research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $18.50.
SBH has been the topic of several research analyst reports. Robert W. Baird set a $24.00 price objective on Sally Beauty and gave the company a “buy” rating in a report on Tuesday, November 14th. DA Davidson raised Sally Beauty from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Monday, October 16th. Cowen reissued a “buy” rating and issued a $24.00 price objective on shares of Sally Beauty in a report on Thursday, September 28th. Zacks Investment Research lowered Sally Beauty from a “buy” rating to a “hold” rating in a report on Saturday, October 21st. Finally, KeyCorp reissued a “hold” rating on shares of Sally Beauty in a report on Monday, October 16th.
Shares of Sally Beauty (SBH) traded up $0.44 on Thursday, reaching $17.06. The company’s stock had a trading volume of 2,660,026 shares, compared to its average volume of 2,691,143. The company has a debt-to-equity ratio of -4.87, a quick ratio of 0.42 and a current ratio of 2.04. Sally Beauty has a one year low of $14.05 and a one year high of $27.63. The firm has a market capitalization of $2,191.10, a price-to-earnings ratio of 9.48, a P/E/G ratio of 1.59 and a beta of 0.66.
Sally Beauty (NYSE:SBH) last issued its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). Sally Beauty had a net margin of 5.46% and a negative return on equity of 74.84%. The business had revenue of $974.20 million during the quarter, compared to analyst estimates of $989.96 million. During the same period in the previous year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. analysts anticipate that Sally Beauty will post 1.91 earnings per share for the current fiscal year.
Sally Beauty announced that its Board of Directors has initiated a share buyback program on Thursday, August 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to purchase up to 40.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Edward W. Rabin purchased 3,750 shares of the stock in a transaction dated Tuesday, November 21st. The shares were purchased at an average cost of $15.49 per share, with a total value of $58,087.50. Following the completion of the purchase, the director now directly owns 14,351 shares of the company’s stock, valued at approximately $222,296.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.97% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp boosted its stake in Sally Beauty by 0.6% during the second 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 during the last quarter. Scotia Capital Inc. boosted its stake in Sally Beauty by 0.9% during the second quarter. Scotia Capital Inc. now owns 22,550 shares of the specialty retailer’s stock worth $457,000 after buying an additional 200 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Sally Beauty by 0.6% during the second quarter. Alliancebernstein L.P. now owns 88,272 shares of the specialty retailer’s stock worth $1,788,000 after buying an additional 490 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sally Beauty by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the specialty retailer’s stock worth $110,000 after buying an additional 559 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Sally Beauty by 4.8% during the second quarter. Pacer Advisors Inc. now owns 15,110 shares of the specialty retailer’s stock worth $306,000 after buying an additional 692 shares during the last quarter.
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Sally Beauty 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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