Sally Beauty Holdings, Inc. (SBH) Shares Gap Up to $17.45
Sally Beauty Holdings, Inc. (NYSE:SBH) gapped up prior to trading on Monday . The stock had previously closed at $16.75, but opened at $17.45. Sally Beauty Holdings shares last traded at $17.71, with a volume of 2,186,641 shares changing hands.
Several equities research analysts have issued reports on SBH shares. DA Davidson reissued a “buy” rating and issued a $23.00 price objective on shares of Sally Beauty Holdings in a research report on Monday, July 24th. Zacks Investment Research upgraded shares of Sally Beauty Holdings from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Tuesday, July 18th. Cowen and Company restated a “buy” rating and issued a $24.00 price target on shares of Sally Beauty Holdings in a report on Thursday, September 28th. BMO Capital Markets set a $21.00 price target on shares of Sally Beauty Holdings and gave the company a “hold” rating in a report on Saturday, August 5th. Finally, BidaskClub upgraded shares of Sally Beauty Holdings from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $23.67.
The stock has a market capitalization of $2.37 billion, a PE ratio of 10.93 and a beta of 0.70. The company has a 50-day moving average of $19.45 and a 200-day moving average of $19.45.
Sally Beauty Holdings (NYSE:SBH) last issued its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Sally Beauty Holdings had a net margin of 5.89% and a negative return on equity of 80.60%. The company had revenue of $998.04 million during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts forecast that Sally Beauty Holdings, Inc. will post $1.82 earnings per share for the current year.
Sally Beauty Holdings announced that its board has authorized a share repurchase program on Thursday, August 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 40.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In related news, CEO Christian A. Brickman acquired 20,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average price of $17.54 per share, with a total value of $350,800.00. Following the completion of the acquisition, the chief executive officer now owns 182,543 shares in the company, valued at $3,201,804.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward W. Rabin acquired 4,250 shares of the business’s stock in a transaction on Monday, August 21st. The shares were bought at an average cost of $18.06 per share, for a total transaction of $76,755.00. Following the acquisition, the director now owns 16,653 shares of the company’s stock, valued at approximately $300,753.18. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 34,250 shares of company stock worth $606,555. 0.97% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Leith Wheeler Investment Counsel Ltd. raised its holdings in Sally Beauty Holdings by 30.8% during the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 58,414 shares of the specialty retailer’s stock worth $1,302,000 after purchasing an additional 13,760 shares in the last quarter. Burgundy Asset Management Ltd. acquired a new stake in Sally Beauty Holdings during the second quarter worth approximately $51,787,000. Lord Abbett & CO. LLC acquired a new stake in Sally Beauty Holdings during the second quarter worth approximately $21,406,000. Scotia Capital Inc. raised its holdings in Sally Beauty Holdings by 0.9% during the second quarter. Scotia Capital Inc. now owns 22,550 shares of the specialty retailer’s stock worth $457,000 after purchasing an additional 200 shares in the last quarter. Finally, Timucuan Asset Management Inc. FL raised its holdings in Sally Beauty Holdings by 31.7% during the second quarter. Timucuan Asset Management Inc. FL now owns 2,037,920 shares of the specialty retailer’s stock worth $41,268,000 after purchasing an additional 490,932 shares in the last quarter.
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About Sally Beauty Holdings
Sally Beauty Holdings, Inc is an international specialty retailer and distributor of professional beauty supplies with operations primarily in North America, South America and Europe. The Company operates through two business segments: Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty Supply is a domestic and international chain of cash and carry retail stores, which offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America.
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