Sally Beauty Holdings Inc. (SBH) Shares Down 11.7%
Sally Beauty Holdings Inc. (NYSE:SBH) fell 11.7% during mid-day trading on Thursday . The company traded as low as $26.06 and last traded at $26.37, with a volume of 5,749,029 shares changing hands. The stock had previously closed at $29.85.
A number of brokerages recently issued reports on SBH. B. Riley reissued a “neutral” rating and issued a $31.00 price objective on shares of Sally Beauty Holdings in a report on Thursday, May 12th. Oppenheimer Holdings Inc. began coverage on shares of Sally Beauty Holdings in a report on Saturday, May 14th. They issued a “buy” rating for the company. Zacks Investment Research raised shares of Sally Beauty Holdings from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Tuesday, July 12th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $30.00 price objective (down previously from $31.00) on shares of Sally Beauty Holdings in a report on Thursday, May 19th. Finally, Robert W. Baird reissued a “buy” rating and issued a $34.00 price objective on shares of Sally Beauty Holdings in a report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Sally Beauty Holdings currently has a consensus rating of “Hold” and a consensus price target of $32.57.
The firm has a 50 day moving average price of $29.28 and a 200-day moving average price of $29.95. The stock has a market cap of $3.86 billion and a PE ratio of 18.37.
Sally Beauty Holdings (NYSE:SBH) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. During the same quarter in the prior year, the business posted $0.41 EPS. The company had revenue of $998 million for the quarter, compared to analysts’ expectations of $1,000 million. The company’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 related news, Director Marshall E. Eisenberg sold 12,000 shares of Sally Beauty Holdings 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 sale, the director now owns 60,000 shares in the company, valued at approximately $1,819,200. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Other hedge funds have bought and sold shares of the company. Victory Capital Management Inc. acquired a new stake in Sally Beauty Holdings during the fourth quarter valued at approximately $2,201,000. Bank of Montreal Can boosted its stake 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 stake 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. Wells Fargo & Company MN boosted its stake 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, Eagle Asset Management boosted its stake in 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 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.