Wells Fargo & Company Reaffirms Market Perform Rating for Sally Beauty Holdings, Inc. (SBH)
Wells Fargo & Company reissued their market perform rating on shares of Sally Beauty Holdings, Inc. (NYSE:SBH) in a research report report published on Wednesday. The firm currently has a $20.00 target price on the specialty retailer’s stock, down from their previous target price of $21.50.
Other analysts have also issued reports about the company. Robert W. Baird set a $26.00 target price on Sally Beauty Holdings and gave the company a buy rating in a research note on Saturday, May 6th. DA Davidson restated a buy rating and issued a $23.00 target price on shares of Sally Beauty Holdings in a research note on Monday, July 24th. Zacks Investment Research upgraded Sally Beauty Holdings from a hold rating to a buy rating and set a $22.00 target price for the company in a research note on Tuesday, July 18th. ValuEngine lowered Sally Beauty Holdings from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC began coverage on Sally Beauty Holdings in a research note on Friday, June 2nd. They issued a hold rating for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Sally Beauty Holdings currently has an average rating of Hold and an average price target of $24.70.
Shares of Sally Beauty Holdings (NYSE:SBH) traded up 2.13% during trading on Wednesday, reaching $20.10. 1,993,929 shares of the company were exchanged. Sally Beauty Holdings has a 52-week low of $17.26 and a 52-week high of $30.17. The stock has a 50-day moving average of $20.00 and a 200 day moving average of $20.36. The stock has a market capitalization of $2.66 billion, a P/E ratio of 12.27 and a beta of 0.65.
Sally Beauty Holdings (NYSE:SBH) last announced its earnings results on Thursday, August 3rd. The specialty retailer reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. Sally Beauty Holdings had a negative return on equity of 80.60% and a net margin of 5.89%. The company had revenue of $998.04 million during the quarter, compared to analyst estimates of $1 billion. During the same period last year, the company posted $0.47 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts anticipate that Sally Beauty Holdings will post $1.82 earnings per share for the current fiscal year.
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In other Sally Beauty Holdings news, Director John A. Miller acquired 20,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were acquired at an average price of $18.35 per share, for a total transaction of $367,000.00. Following the acquisition, the director now directly owns 39,802 shares of the company’s stock, valued at approximately $730,366.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christian A. Brickman acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were acquired at an average price of $17.61 per share, for a total transaction of $176,100.00. Following the acquisition, the chief executive officer now directly owns 152,743 shares in the company, valued at $2,689,804.23. The disclosure for this purchase can be found here. Insiders have bought a total of 51,750 shares of company stock valued at $932,060 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SBH. Parametrica Management Ltd acquired a new position in Sally Beauty Holdings during the first quarter valued at $223,000. LSV Asset Management boosted its position in Sally Beauty Holdings by 1.3% in the first quarter. LSV Asset Management now owns 703,500 shares of the specialty retailer’s stock valued at $14,379,000 after buying an additional 8,800 shares during the period. Guggenheim Capital LLC boosted its position in Sally Beauty Holdings by 70.3% in the fourth quarter. Guggenheim Capital LLC now owns 25,856 shares of the specialty retailer’s stock valued at $683,000 after buying an additional 10,670 shares during the period. Thrivent Financial For Lutherans boosted its position in Sally Beauty Holdings by 2.4% in the first quarter. Thrivent Financial For Lutherans now owns 108,770 shares of the specialty retailer’s stock valued at $2,223,000 after buying an additional 2,530 shares during the period. Finally, First Quadrant L P CA acquired a new position in Sally Beauty Holdings during the first quarter valued at $11,551,000.
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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