Shares of Sally Beauty Holdings Inc. (NYSE:SBH) saw unusually-high trading volume on Wednesday . Approximately 2,776,415 shares traded hands during mid-day trading, an increase of 127% from the previous session’s volume of 1,225,682 shares.The stock last traded at $29.85 and had previously closed at $28.71.

SBH has been the topic of several research analyst reports. BB&T Corp. initiated coverage on Sally Beauty Holdings in a research report on Wednesday, April 20th. They issued a “hold” rating on the stock. B. Riley reaffirmed a “neutral” rating and issued a $31.00 price objective on shares of Sally Beauty Holdings in a research report on Friday, May 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Sally Beauty Holdings in a research report on Friday, May 6th. Zacks Investment Research downgraded Sally Beauty Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, May 7th. Finally, Oppenheimer Holdings Inc. reaffirmed a “top pick” rating and issued a $36.00 price objective on shares of Sally Beauty Holdings in a research report on Friday, May 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Sally Beauty Holdings has a consensus rating of “Hold” and a consensus target price of $32.57.

The stock has a market capitalization of $4.35 billion and a price-to-earnings ratio of 20.70. The firm has a 50 day moving average of $29.28 and a 200 day moving average of $29.95.

In other news, Director Marshall E. Eisenberg sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $30.32, for a total value of $363,840.00. Following the transaction, the director now owns 60,000 shares in the company, valued at $1,819,200. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

A number of institutional investors recently made changes to their positions in the company. Bank of Montreal Can increased its position 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 during the last quarter. New York State Common Retirement Fund increased its position in shares of Sally Beauty Holdings by 10.9% in the fourth quarter. New York State Common Retirement Fund now owns 451,177 shares of the company’s stock worth $12,583,000 after buying an additional 44,377 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Sally Beauty Holdings during the fourth quarter worth approximately $2,201,000. Wells Fargo & Company MN increased its position in shares of Sally Beauty Holdings by 22.2% in the fourth quarter. Wells Fargo & Company MN now owns 589,551 shares of the company’s stock worth $16,444,000 after buying an additional 107,078 shares during the last quarter. Finally, Nicholas Co. Inc. WI increased its position in shares of Sally Beauty Holdings by 49.8% in the fourth quarter. Nicholas Co. Inc. WI now owns 1,248,971 shares of the company’s stock worth $34,833,000 after buying an additional 415,130 shares during 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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