Jefferies Group Comments on Sally Beauty Holdings, Inc.’s Q4 2017 Earnings (SBH)
Sally Beauty Holdings, Inc. (NYSE:SBH) – Analysts at Jefferies Group reduced their Q4 2017 earnings per share (EPS) estimates for shares of Sally Beauty Holdings in a report released on Sunday. Jefferies Group analyst S. Wissink now anticipates that the specialty retailer will post earnings per share of $0.41 for the quarter, down from their previous forecast of $0.45. Jefferies Group also issued estimates for Sally Beauty Holdings’ Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.39 EPS, Q3 2019 earnings at $0.45 EPS and Q4 2019 earnings at $0.37 EPS.
Several other equities analysts have also commented on the company. DA Davidson upgraded Sally Beauty Holdings from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Monday, October 16th. Zacks Investment Research lowered Sally Beauty Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, October 21st. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Sally Beauty Holdings in a research report on Wednesday, September 13th. KeyCorp reiterated a “hold” rating on shares of Sally Beauty Holdings in a research report on Monday, October 16th. Finally, Morgan Stanley lowered Sally Beauty Holdings from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.75.
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Sally Beauty Holdings (NYSE:SBH) opened at $15.67 on Tuesday. The company has a current ratio of 2.18, a quick ratio of 0.43 and a debt-to-equity ratio of -5.07. The company has a market capitalization of $1,989.00, a PE ratio of 8.60, a PEG ratio of 1.37 and a beta of 0.66. Sally Beauty Holdings has a 1 year low of $14.22 and a 1 year high of $27.71.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC purchased a new stake in Sally Beauty Holdings in the 2nd quarter worth approximately $179,760,000. Nordea Investment Management AB lifted its holdings in Sally Beauty Holdings by 1.9% in the 3rd quarter. Nordea Investment Management AB now owns 6,169,915 shares of the specialty retailer’s stock worth $120,807,000 after buying an additional 112,801 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Sally Beauty Holdings by 10.1% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 5,666,809 shares of the specialty retailer’s stock worth $110,956,000 after buying an additional 518,520 shares during the period. State Street Corp lifted its holdings in Sally Beauty Holdings by 0.4% in the 2nd quarter. State Street Corp now owns 4,039,329 shares of the specialty retailer’s stock worth $81,789,000 after buying an additional 14,768 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Sally Beauty Holdings by 3.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,565,526 shares of the specialty retailer’s stock worth $50,233,000 after buying an additional 85,660 shares during the period.
In related news, CEO Christian A. Brickman purchased 20,000 shares of Sally Beauty Holdings stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average cost of $17.54 per share, for a total transaction of $350,800.00. Following the transaction, the chief executive officer now directly owns 182,543 shares in the company, valued at $3,201,804.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christian A. Brickman acquired 10,000 shares of the company’s stock in a transaction on Friday, August 18th. The stock was acquired at an average price of $17.90 per share, with a total value 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. Over the last 90 days, insiders have purchased 34,250 shares of company stock worth $606,555. 0.97% of the stock is owned by corporate insiders.
Sally Beauty Holdings announced that its board has authorized a stock repurchase program on Thursday, August 31st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to reacquire up to 40.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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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