Sally Beauty Holdings Inc. (SBH) Shares Down 2.5%
Sally Beauty Holdings Inc. (NYSE:SBH) shares fell 2.5% on Thursday . The company traded as low as $29.60 and last traded at $29.61, with a volume of 609,761 shares trading hands. The stock had previously closed at $30.36.
A number of research firms have weighed in on SBH. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Sally Beauty Holdings in a research note on Wednesday, June 22nd. Zacks Investment Research cut shares of Sally Beauty Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, May 7th. Wells Fargo & Co. upgraded shares of Sally Beauty Holdings from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $23.00 to $31.00 in a research note on Thursday, June 2nd. Cowen and Company reiterated an “outperform” rating and issued a $36.00 target price (up from $34.00) on shares of Sally Beauty Holdings in a research note on Tuesday, March 29th. Finally, KeyCorp reiterated a “buy” rating on shares of Sally Beauty Holdings in a research note on Monday, June 20th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $32.57.
The stock has a 50 day moving average of $29.33 and a 200-day moving average of $29.74. The stock has a market cap of $4.25 billion and a price-to-earnings ratio of 20.24.
Sally Beauty Holdings (NYSE:SBH) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The company earned $980.10 million during the quarter, compared to the consensus estimate of $965.18 million. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, equities analysts anticipate that Sally Beauty Holdings Inc. will post $1.74 earnings per share for the current fiscal year.
In other news, Director Marshall E. Eisenberg sold 12,000 shares of Sally Beauty Holdings stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $30.32, for a total value of $363,840.00. Following the completion of the sale, the director now directly owns 60,000 shares in the company, valued at $1,819,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Several hedge funds recently made changes to their positions in SBH. Victory Capital Management Inc. bought a new stake in shares of Sally Beauty Holdings during the fourth quarter worth approximately $2,201,000. Bank of Montreal Can raised its stake in shares of Sally Beauty Holdings by 19.3% in the fourth quarter. Bank of Montreal Can now owns 104,956 shares of the company’s stock worth $2,928,000 after buying an additional 16,956 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Sally Beauty Holdings by 1.7% in the fourth quarter. Rhumbline Advisers now owns 147,768 shares of the company’s stock worth $4,121,000 after buying an additional 2,463 shares in the last quarter. Monarch Partners Asset Management LLC bought a new stake in shares of Sally Beauty Holdings during the fourth quarter worth approximately $6,806,000. Finally, California Public Employees Retirement System raised its stake in shares of Sally Beauty Holdings by 1.1% in the fourth quarter. California Public Employees Retirement System now owns 422,600 shares of the company’s stock worth $11,786,000 after buying an additional 4,600 shares in the last quarter.
Sally Beauty Holdings, Inc (Sally Beauty) is a retailer and distributor of beauty supplies. The Company operates in North America, South America and Europe. Sally Beauty operates through two business segments namely Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty provides its customers with a variety of third-party branded beauty supplies, including hair color products, hair care products, styling appliances, brushes, nail care products, ethnic products and beauty items.
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