Shares of Sally Beauty Holdings Inc. (NYSE:SBH) dropped 11.7% on Thursday . The company traded as low as $26.06 and last traded at $26.37, with a volume of 5,749,029 shares trading hands. The stock had previously closed at $29.85.

SBH has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Sally Beauty Holdings from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Tuesday, July 12th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Sally Beauty Holdings in a research note on Wednesday, June 22nd. KeyCorp reissued a “buy” rating on shares of Sally Beauty Holdings in a research note on Monday, June 20th. Robert W. Baird reaffirmed a “buy” rating and set a $34.00 price objective on shares of Sally Beauty Holdings in a research note on Friday, May 6th. Finally, BB&T Corp. began coverage on shares of Sally Beauty Holdings in a research note on Wednesday, April 20th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Sally Beauty Holdings currently has an average rating of “Hold” and a consensus target price of $32.46.

The firm’s 50-day moving average is $29.12 and its 200 day moving average is $29.90. The firm has a market cap of $3.86 billion and a price-to-earnings ratio of 18.37.

Sally Beauty Holdings (NYSE:SBH) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The business earned $998 million during the quarter, compared to analyst estimates of $1,000 million. During the same quarter last year, the firm earned $0.41 EPS. Sally Beauty Holdings’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts predict that Sally Beauty Holdings Inc. will post $1.73 EPS for the current fiscal year.

In other news, Director Marshall E. Eisenberg sold 12,000 shares of the business’s 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 transaction, the director now directly owns 60,000 shares in the company, valued at approximately $1,819,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Several institutional investors have recently modified their holdings of SBH. Victory Capital Management Inc. purchased a new position in shares of Sally Beauty Holdings during the fourth quarter valued at approximately $2,201,000. Bank of Montreal Can boosted 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 valued at $2,928,000 after buying an additional 16,956 shares during the last quarter. New York State Common Retirement Fund boosted 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 valued at $12,583,000 after buying an additional 44,377 shares during the last quarter. Wells Fargo & Company MN boosted 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 valued at $16,444,000 after buying an additional 107,078 shares during the last quarter. Finally, Eagle Asset Management boosted its position in shares of Sally Beauty Holdings by 107.2% in the third quarter. Eagle Asset Management now owns 1,143,180 shares of the company’s stock valued at $27,150,000 after buying an additional 591,539 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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