Sally Beauty Holdings, Inc. (NYSE:SBH)’s stock price was down 5.3% on Wednesday . The stock traded as low as $12.84 and last traded at $12.84, approximately 1,555,146 shares changed hands during mid-day trading. A decline of 14% from the average daily volume of 1,816,135 shares. The stock had previously closed at $13.56.
Several analysts recently weighed in on SBH shares. Bank of America reiterated an “underperform” rating and issued a $13.00 price target (down previously from $15.00) on shares of Sally Beauty in a report on Tuesday, June 25th. ValuEngine lowered Sally Beauty from a “sell” rating to a “strong sell” rating in a research report on Monday, June 24th. Zacks Investment Research raised Sally Beauty from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Wells Fargo & Co reissued a “hold” rating on shares of Sally Beauty in a research report on Tuesday, June 25th. Finally, DA Davidson raised their price objective on Sally Beauty from $14.00 to $16.50 and gave the company an “add” rating in a research report on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $16.08.
The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 5.94, a PEG ratio of 1.99 and a beta of 0.44. The business’s 50-day simple moving average is $12.64.
Sally Beauty (NYSE:SBH) last announced its quarterly earnings data on Wednesday, July 31st. The specialty retailer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $975.20 million during the quarter, compared to analyst estimates of $986.27 million. Sally Beauty had a negative return on equity of 151.31% and a net margin of 6.65%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. On average, sell-side analysts anticipate that Sally Beauty Holdings, Inc. will post 2.21 earnings per share for the current year.
In related news, Director Edward W. Rabin purchased 7,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $13.25 per share, with a total value of $92,750.00. Following the transaction, the director now directly owns 19,732 shares in the company, valued at $261,449. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christian A. Brickman purchased 5,000 shares of the stock in a transaction dated Friday, May 31st. The stock was bought at an average cost of $14.93 per share, with a total value of $74,650.00. Following the transaction, the chief executive officer now owns 360,332 shares in the company, valued at $5,379,756.76. The disclosure for this purchase can be found here. Insiders have acquired 13,500 shares of company stock valued at $189,795 in the last three months. Insiders own 1.04% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Sally Beauty by 0.6% in the 2nd quarter. BlackRock Inc. now owns 14,286,208 shares of the specialty retailer’s stock worth $190,576,000 after purchasing an additional 88,389 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of Sally Beauty by 13.1% in the 1st quarter. Champlain Investment Partners LLC now owns 8,444,630 shares of the specialty retailer’s stock worth $155,466,000 after purchasing an additional 976,690 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Sally Beauty by 4.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,110,066 shares of the specialty retailer’s stock worth $75,667,000 after purchasing an additional 184,474 shares during the last quarter. LSV Asset Management raised its position in shares of Sally Beauty by 3.5% in the 2nd quarter. LSV Asset Management now owns 3,343,545 shares of the specialty retailer’s stock worth $44,602,000 after purchasing an additional 114,000 shares during the last quarter. Finally, Ardevora Asset Management LLP raised its position in shares of Sally Beauty by 41.5% in the 2nd quarter. Ardevora Asset Management LLP now owns 2,769,200 shares of the specialty retailer’s stock worth $36,941,000 after purchasing an additional 812,700 shares during the last quarter.
Sally Beauty Company Profile (NYSE:SBH)
Sally Beauty Holdings, Inc operates as a specialty retailer and distributor of professional beauty supplies. The company operates through two segments, Sally Beauty Supply and Beauty Systems Group. The Sally Beauty Supply segment offers beauty products, including hair color and care, skin and nail care, styling tools, and other beauty products for retail customers and salon professionals.
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