Sally Beauty Holdings, Inc. (NYSE:SBH) Lifted to “Buy” at Zacks Investment Research
Sally Beauty Holdings, Inc. (NYSE:SBH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $22.00 target price on the specialty retailer’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.28% from the stock’s previous close.
According to Zacks, “SALLY BEAUTY HOLDING INC is an international specialty retailer and distributor of professional beauty supplies with revenues of more than $2.5 billion annually. Through they Supply and Beauty Systems Group businesses, the Company sells and distributes through over 3,500 stores, including approximately 200 franchised units, throughout the United States, the United Kingdom, Canada, Puerto Rico, Mexico, Japan, Ireland, Spain and Germany. “
Several other research analysts have also commented on the stock. BidaskClub lowered shares of Sally Beauty Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. DA Davidson assumed coverage on shares of Sally Beauty Holdings in a report on Thursday, July 6th. They issued a “neutral” rating and a $23.00 price target on the stock. ValuEngine lowered shares of Sally Beauty Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC assumed coverage on shares of Sally Beauty Holdings in a report on Friday, June 2nd. They issued a “hold” rating on the stock. Finally, Robert W. Baird set a $26.00 price target on shares of Sally Beauty Holdings and gave the company a “buy” rating in a report on Saturday, May 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.90.
Shares of Sally Beauty Holdings (SBH) opened at 19.77 on Tuesday. The firm’s 50 day moving average is $18.88 and its 200-day moving average is $21.65. The firm has a market capitalization of $2.74 billion, a PE ratio of 12.26 and a beta of 0.65. Sally Beauty Holdings has a 12 month low of $17.26 and a 12 month high of $30.40.
Sally Beauty Holdings (NYSE:SBH) last posted its quarterly earnings results on Thursday, May 4th. The specialty retailer reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Sally Beauty Holdings had a net margin of 5.92% and a negative return on equity of 84.81%. The firm had revenue of $966.50 million for the quarter, compared to analyst estimates of $986.09 million. During the same quarter last year, the firm posted $0.41 earnings per share. Sally Beauty Holdings’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts expect that Sally Beauty Holdings will post $1.76 EPS for the current fiscal year.
In other news, Director Edward W. Rabin acquired 2,750 shares of the stock in a transaction on Friday, May 26th. The stock was bought at an average price of $17.70 per share, with a total value of $48,675.00. Following the completion of the transaction, the director now directly owns 15,903 shares of the company’s stock, valued at $281,483.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christian A. Brickman acquired 10,000 shares of the stock in a transaction on Monday, May 8th. The stock was purchased at an average cost of $19.88 per share, with a total value of $198,800.00. Following the transaction, the chief executive officer now directly owns 142,543 shares of the company’s stock, valued at $2,833,754.84. The disclosure for this purchase can be found here. Insiders acquired 61,750 shares of company stock valued at $1,130,860 in the last ninety days. 0.97% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Sally Beauty Holdings by 0.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,344,977 shares of the specialty retailer’s stock valued at $427,971,000 after buying an additional 39,138 shares during the period. BlackRock Inc. increased its stake in Sally Beauty Holdings by 13,327.3% in the first quarter. BlackRock Inc. now owns 11,424,731 shares of the specialty retailer’s stock worth $233,521,000 after buying an additional 11,339,645 shares during the last quarter. Vanguard Group Inc. increased its stake in Sally Beauty Holdings by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,330,251 shares of the specialty retailer’s stock worth $231,591,000 after buying an additional 501,039 shares during the last quarter. FMR LLC increased its stake in Sally Beauty Holdings by 5.7% in the fourth quarter. FMR LLC now owns 9,776,428 shares of the specialty retailer’s stock worth $258,293,000 after buying an additional 531,570 shares during the last quarter. Finally, Jackson Square Partners LLC increased its stake in Sally Beauty Holdings by 16.6% in the second quarter. Jackson Square Partners LLC now owns 9,265,944 shares of the specialty retailer’s stock worth $272,511,000 after buying an additional 1,316,415 shares during the last quarter.
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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