Sally Beauty Holdings Inc. (SBH) Posts Quarterly Earnings Results
Sally Beauty Holdings Inc. (NYSE:SBH) released its quarterly earnings data on Tuesday. The company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. Sally Beauty Holdings had a net margin of 5.75% and a negative return on equity of 81.78%. The business earned $976.40 million during the quarter, compared to the consensus estimate of $989.05 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue was up 1.3% on a year-over-year basis.
Sally Beauty Holdings (NYSE:SBH) opened at 24.84 on Wednesday. The stock’s 50 day moving average is $26.15 and its 200-day moving average is $28.06. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 16.57 and a beta of 0.67. Sally Beauty Holdings has a 12 month low of $23.42 and a 12 month high of $32.93.
Several research analysts have commented on the stock. Citigroup Inc. downgraded shares of Sally Beauty Holdings to an “underperform” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Sally Beauty Holdings from a “sell” rating to a “hold” rating in a research report on Saturday, August 27th. B. Riley restated a “neutral” rating and set a $29.00 target price on shares of Sally Beauty Holdings in a research report on Wednesday. Piper Jaffray Cos. restated a “neutral” rating and set a $28.00 target price (down from $30.00) on shares of Sally Beauty Holdings in a research report on Monday, August 8th. Finally, KeyCorp decreased their target price on shares of Sally Beauty Holdings from $36.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Sally Beauty Holdings currently has an average rating of “Hold” and a consensus target price of $30.85.
A number of institutional investors have recently bought and sold shares of SBH. BlackRock Fund Advisors raised its position in Sally Beauty Holdings by 288.8% in the third quarter. BlackRock Fund Advisors now owns 5,304,422 shares of the company’s stock worth $136,218,000 after buying an additional 3,940,270 shares during the last quarter. Point72 Asset Management L.P. raised its position in Sally Beauty Holdings by 203.3% in the second quarter. Point72 Asset Management L.P. now owns 3,653,300 shares of the company’s stock worth $107,444,000 after buying an additional 2,448,900 shares during the last quarter. Atlanta Capital Management Co. L L C raised its position in Sally Beauty Holdings by 19.3% in the second quarter. Atlanta Capital Management Co. L L C now owns 13,783,467 shares of the company’s stock worth $405,372,000 after buying an additional 2,227,625 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Sally Beauty Holdings during the third quarter worth $44,552,000. Finally, Eaton Vance Management raised its position in Sally Beauty Holdings by 339.1% in the second quarter. Eaton Vance Management now owns 1,942,858 shares of the company’s stock worth $57,139,000 after buying an additional 1,500,384 shares during the last quarter.
About Sally Beauty Holdings
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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