Sally Beauty (NYSE:SBH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $21.00 target price on the specialty retailer’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.28% from the stock’s current price.
According to Zacks, “Sally Beauty Holdings, Inc. is an international specialty retailer and distributor of professional beauty products supplier. Through the Sally Beauty Supply and Beauty Systems Group businesses, the Company sells and distributes through world. Sally Beauty Supply stores offer up to 9,000 products for hair, skin, and nails through professional lines such as OPI, China Glaze, Wella, Clairol, Conair and Hot Shot Tools, as well as an extensive selection of proprietary merchandise. Beauty Systems Group stores, branded as CosmoProf or Armstrong McCall stores, along with its outside sales consultants, sell up to 10,000 professionally branded products including Paul Mitchell, Wella, Matrix, Schwarzkopf, Kenra, Goldwell, Joico and Aquage, intended for use in salons and for resale by salons to retail consumers. “
Other equities research analysts have also recently issued reports about the stock. Nomura dropped their price target on shares of Sally Beauty from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, November 16th. DA Davidson upgraded shares of Sally Beauty from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Monday, October 16th. Cowen set a $18.00 price target on shares of Sally Beauty and gave the stock a “buy” rating in a research report on Thursday, November 16th. BMO Capital Markets dropped their price target on shares of Sally Beauty from $21.00 to $16.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 15th. Finally, Buckingham Research dropped their price target on shares of Sally Beauty from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.45.
Sally Beauty (NYSE:SBH) traded down $0.31 during mid-day trading on Wednesday, reaching $18.06. 2,520,900 shares of the company traded hands, compared to its average volume of 1,681,610. The company has a quick ratio of 0.42, a current ratio of 2.04 and a debt-to-equity ratio of -4.87. Sally Beauty has a 1-year low of $14.05 and a 1-year high of $26.47. The firm has a market capitalization of $2,330.00, a P/E ratio of 11.65, a P/E/G ratio of 1.66 and a beta of 0.65.
Sally Beauty (NYSE:SBH) last issued its quarterly earnings results 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 negative return on equity of 74.84% and a net margin of 5.46%. The business had revenue of $974.20 million during the quarter, compared to the consensus estimate of $989.96 million. During the same quarter last year, the firm posted $0.41 earnings per share. Sally Beauty’s revenue was down .2% compared to the same quarter last year. sell-side analysts expect that Sally Beauty will post 1.96 EPS for the current fiscal year.
In related news, Director Edward W. Rabin acquired 3,750 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were purchased at an average price of $15.49 per share, for a total transaction of $58,087.50. Following the acquisition, the director now owns 14,351 shares in the company, valued at $222,296.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.48% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in Sally Beauty by 11.6% during the 4th quarter. Bank of Montreal Can now owns 171,079 shares of the specialty retailer’s stock worth $3,210,000 after buying an additional 17,765 shares during the period. Leith Wheeler Investment Counsel Ltd. raised its holdings in Sally Beauty by 5.4% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 61,584 shares of the specialty retailer’s stock worth $1,155,000 after buying an additional 3,170 shares during the period. Burgundy Asset Management Ltd. raised its holdings in Sally Beauty by 21.6% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 3,110,584 shares of the specialty retailer’s stock worth $60,905,000 after buying an additional 553,203 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Sally Beauty by 40.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 275,027 shares of the specialty retailer’s stock worth $5,385,000 after buying an additional 79,015 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in Sally Beauty during the 3rd quarter worth about $197,000.
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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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