Traders Buy Sally Beauty Holdings Inc. (SBH) on Weakness
Investors purchased shares of Sally Beauty Holdings Inc. (NYSE:SBH) on weakness during trading 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 equities 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
Several analysts have recently commented on the stock. Oppenheimer Holdings Inc. restated 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 raised their target price for the stock from $23.00 to $31.00 in a research note on Thursday, June 2nd. KeyCorp restated a “buy” rating on shares of Sally Beauty Holdings in a research note on Monday, June 20th. Finally, B. Riley restated a “neutral” rating and issued a $31.00 target price on shares of Sally Beauty Holdings in a research note on Thursday, May 12th. 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 an average target price of $32.57.
The company has a 50 day moving average price of $29.20 and a 200 day moving average price of $29.92. The stock has a market capitalization of $3.86 billion and a price-to-earnings ratio of 18.37.
Sally Beauty Holdings (NYSE:SBH) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $998 million for the quarter, compared to the consensus estimate of $1,000 million. During the same quarter in the prior year, the company posted $0.41 EPS. The firm’s revenue was up 3.1% on a year-over-year basis. Analysts predict 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 company’s stock in a transaction dated Thursday, June 2nd. The shares were 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 owns 60,000 shares in the company, valued at $1,819,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of large investors recently bought and sold shares of the company. Eagle Asset Management increased 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 last quarter. New York State Common Retirement Fund increased 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 last quarter. Bank of Montreal Can increased 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 last quarter. Wells Fargo & Company MN increased 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 last quarter. Finally, Victory Capital Management Inc. bought a new stake in Sally Beauty Holdings during the fourth quarter valued at $2,201,000.
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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