Sally Beauty Holdings, Inc. (SBH) Downgraded to “Underweight” at Morgan Stanley
Other equities analysts also recently issued reports about the company. KeyCorp reaffirmed a hold rating on shares of Sally Beauty Holdings in a report on Wednesday, September 6th. Zacks Investment Research upgraded Sally Beauty Holdings from a hold rating to a buy rating and set a $22.00 price objective for the company in a research note on Tuesday, July 18th. BMO Capital Markets set a $21.00 price objective on Sally Beauty Holdings and gave the company a hold rating in a research note on Saturday, August 5th. BidaskClub upgraded Sally Beauty Holdings from a sell rating to a hold rating in a research note on Monday, July 31st. Finally, DA Davidson upgraded Sally Beauty Holdings from a neutral rating to a buy rating and set a $21.00 price target for the company in a research note on Monday, October 16th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $23.00.
Shares of Sally Beauty Holdings (NYSE:SBH) traded up $0.39 during trading on Wednesday, hitting $16.31. The stock had a trading volume of 2,248,909 shares, compared to its average volume of 2,222,768. Sally Beauty Holdings has a 1-year low of $14.22 and a 1-year high of $30.17. The firm has a market capitalization of $2,150.00, a P/E ratio of 9.70, a PEG ratio of 1.53 and a beta of 0.66. The company has a debt-to-equity ratio of -5.07, a quick ratio of 0.43 and a current ratio of 2.18.
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Sally Beauty Holdings declared that its Board of Directors has approved a stock repurchase program on Thursday, August 31st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to buy up to 40.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In related news, CEO Christian A. Brickman purchased 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average price of $17.54 per share, with a total value of $350,800.00. Following the acquisition, the chief executive officer now owns 182,543 shares in the company, valued at approximately $3,201,804.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christian A. Brickman purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was bought at an average cost of $17.90 per share, for a total transaction of $179,000.00. Following the acquisition, the chief executive officer now owns 172,543 shares in the company, valued at approximately $3,088,519.70. The disclosure for this purchase can be found here. In the last quarter, insiders bought 34,250 shares of company stock valued at $606,555. Insiders own 0.97% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. State Street Corp raised its stake in Sally Beauty Holdings by 0.4% during the 2nd quarter. State Street Corp now owns 4,039,329 shares of the specialty retailer’s stock valued at $81,789,000 after acquiring an additional 14,768 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Sally Beauty Holdings in the 2nd quarter worth $6,676,000. Timucuan Asset Management Inc. FL raised its stake in shares of Sally Beauty Holdings by 31.7% in the 2nd quarter. Timucuan Asset Management Inc. FL now owns 2,037,920 shares of the specialty retailer’s stock worth $41,268,000 after buying an additional 490,932 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Sally Beauty Holdings by 109.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,322,076 shares of the specialty retailer’s stock worth $26,772,000 after buying an additional 689,635 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Sally Beauty Holdings in the 2nd quarter worth $179,760,000.
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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