Sally Beauty (SBH) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Sally Beauty (NYSE:SBH) from a buy rating to a hold rating in a report published on Tuesday.
According to Zacks, “Sally Beauty Holdings, Inc. is an international specialty retailer and distributor of professional beauty products supplier. Through the Sally Beauty Supply and Beauty Systems Group businesses, the Company sells and distributes through world. Sally Beauty Supply stores offer up to 9,000 products for hair, skin, and nails through professional lines such as OPI, China Glaze, Wella, Clairol, Conair and Hot Shot Tools, as well as an extensive selection of proprietary merchandise. Beauty Systems Group stores, branded as CosmoProf or Armstrong McCall stores, along with its outside sales consultants, sell up to 10,000 professionally branded products including Paul Mitchell, Wella, Matrix, Schwarzkopf, Kenra, Goldwell, Joico and Aquage, intended for use in salons and for resale by salons to retail consumers. “
A number of other equities research analysts have also commented on the company. ValuEngine lowered Sally Beauty from a buy rating to a hold rating in a research report on Friday, February 2nd. DA Davidson upgraded Sally Beauty from a neutral rating to a buy rating and set a $21.00 price objective for the company in a research report on Monday, October 16th. BMO Capital Markets decreased their price objective on Sally Beauty from $21.00 to $16.00 and set a market perform rating for the company in a research report on Wednesday, November 15th. KeyCorp restated a hold rating on shares of Sally Beauty in a research report on Monday, October 16th. Finally, Robert W. Baird set a $21.00 price objective on Sally Beauty and gave the stock a buy rating in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. Sally Beauty has a consensus rating of Hold and an average price target of $18.27.
Sally Beauty (NYSE:SBH) last issued its quarterly earnings results on Thursday, February 8th. The specialty retailer reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.26. The firm had revenue of $994.96 million for the quarter, compared to analysts’ expectations of $990.18 million. Sally Beauty had a negative return on equity of 74.84% and a net margin of 5.46%. Sally Beauty’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. analysts expect that Sally Beauty will post 1.99 earnings per share for the current fiscal year.
In other news, Director Edward W. Rabin purchased 3,750 shares of Sally Beauty stock in a transaction dated Tuesday, November 21st. The stock was acquired at an average cost of $15.49 per share, for a total transaction of $58,087.50. Following the acquisition, the director now directly owns 14,351 shares in the company, valued at $222,296.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in shares of Sally Beauty by 1.9% during the 3rd quarter. Nordea Investment Management AB now owns 6,169,915 shares of the specialty retailer’s stock valued at $120,807,000 after buying an additional 112,801 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Sally Beauty by 10.1% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 5,666,809 shares of the specialty retailer’s stock valued at $110,956,000 after buying an additional 518,520 shares during the last quarter. State Street Corp lifted its holdings in shares of Sally Beauty 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 buying an additional 14,768 shares during the last quarter. Burgundy Asset Management Ltd. lifted its holdings in shares of Sally Beauty by 21.6% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 3,110,584 shares of the specialty retailer’s stock valued at $60,905,000 after buying an additional 553,203 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Sally Beauty by 3.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,565,526 shares of the specialty retailer’s stock valued at $50,233,000 after buying an additional 85,660 shares during the last quarter.
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Sally Beauty Company Profile
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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