Traders Buy Sally Beauty Holdings Inc. (SBH) on Weakness
Investors purchased shares of Sally Beauty Holdings Inc. (NYSE:SBH) on weakness during trading hours on Thursday. $58.01 million flowed into the stock on the tick-up and $34.69 million flowed out of the stock on the tick-down, for a money net flow of $23.32 million into the stock. Of all stocks tracked, Sally Beauty Holdings had the 9th highest net in-flow for the day. Sally Beauty Holdings traded down ($3.36) for the day and closed at $26.49
A number of research firms have commented on SBH. BB&T Corp. began coverage on shares of Sally Beauty Holdings in a research note on Wednesday, April 20th. They set a “hold” rating for the company. B. Riley reaffirmed a “neutral” rating and set a $31.00 price objective on shares of Sally Beauty Holdings in a research note on Friday, May 6th. 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. Zacks Investment Research lowered shares of Sally Beauty Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Wells Fargo & Co. raised shares of Sally Beauty Holdings from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $23.00 to $31.00 in a research report on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $32.46.
The company has a market cap of $3.86 billion and a P/E ratio of 18.37. The company’s 50-day moving average is $29.12 and its 200 day moving average is $29.90.
Sally Beauty Holdings (NYSE:SBH) last posted its earnings results on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company had revenue of $998 million for the quarter, compared to analyst estimates of $1,000 million. Sally Beauty Holdings’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts forecast that Sally Beauty Holdings Inc. will post $1.73 EPS for the current year.
In other news, Director Marshall E. Eisenberg sold 12,000 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $30.32, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Several institutional investors have added to or reduced their stakes in SBH. Bank of Montreal Can boosted its position in 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 period. New York State Common Retirement Fund boosted its position in 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 period. Victory Capital Management Inc. acquired a new position in Sally Beauty Holdings during the fourth quarter valued at $2,201,000. Wells Fargo & Company MN boosted its position in 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 period. Finally, Nicholas Co. Inc. WI boosted its position in 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 valued at $34,833,000 after buying an additional 415,130 shares during the period.
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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