Sally Beauty Holdings, Inc. (SBH) Earns Hold Rating from Oppenheimer Holdings, Inc.
Several other brokerages have also recently weighed in on SBH. Wells Fargo & Company reaffirmed a market perform rating and issued a $20.00 price target (down from $21.50) on shares of Sally Beauty Holdings in a research note on Wednesday, August 9th. Jefferies Group LLC started coverage on Sally Beauty Holdings in a research note on Friday, June 2nd. They issued a hold rating on the stock. BMO Capital Markets set a $21.00 price target on Sally Beauty Holdings and gave the stock a hold rating in a research note on Saturday, August 5th. Zacks Investment Research cut Sally Beauty Holdings from a hold rating to a sell rating in a research note on Thursday, July 6th. Finally, BidaskClub raised Sally Beauty Holdings from a strong sell rating to a sell rating in a research note on Saturday, June 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $24.50.
Sally Beauty Holdings (NYSE SBH) opened at 20.19 on Wednesday. Sally Beauty Holdings has a one year low of $17.26 and a one year high of $30.17. The company has a 50 day moving average price of $19.55 and a 200-day moving average price of $19.66. The company has a market capitalization of $2.68 billion, a PE ratio of 12.33 and a beta of 0.66.
Sally Beauty Holdings (NYSE:SBH) last issued its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The company had revenue of $998.04 million for the quarter, compared to analysts’ expectations of $1 billion. Sally Beauty Holdings had a negative return on equity of 80.60% and a net margin of 5.89%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 earnings per share. Analysts expect that Sally Beauty Holdings will post $1.82 EPS for the current fiscal year.
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Sally Beauty Holdings announced that its board has approved a share repurchase program on Thursday, August 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 40.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other Sally Beauty Holdings news, Director Edward W. Rabin purchased 4,250 shares of the stock in a transaction dated Monday, August 21st. The shares were purchased at an average cost of $18.06 per share, with a total value of $76,755.00. Following the completion of the acquisition, the director now directly owns 16,653 shares in the company, valued at approximately $300,753.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christian A. Brickman purchased 20,000 shares of the stock in a transaction dated 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 completion of the acquisition, the chief executive officer now owns 182,543 shares of the company’s stock, valued at $3,201,804.22. The disclosure for this purchase can be found here. Over the last three months, insiders bought 34,250 shares of company stock worth $606,555. Insiders own 0.97% of the company’s stock.
Large investors have recently made changes to their positions in the company. US Bancorp DE lifted its holdings in shares of Sally Beauty Holdings by 227.6% during the second quarter. US Bancorp DE now owns 5,100 shares of the specialty retailer’s stock valued at $103,000 after purchasing an additional 3,543 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sally Beauty Holdings by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the specialty retailer’s stock valued at $110,000 after purchasing an additional 559 shares in the last quarter. Meadow Creek Investment Management LLC lifted its holdings in shares of Sally Beauty Holdings by 11.8% during the first quarter. Meadow Creek Investment Management LLC now owns 5,852 shares of the specialty retailer’s stock valued at $120,000 after purchasing an additional 616 shares in the last quarter. Glen Harbor Capital Management LLC lifted its holdings in shares of Sally Beauty Holdings by 11.8% during the first quarter. Glen Harbor Capital Management LLC now owns 7,448 shares of the specialty retailer’s stock valued at $152,000 after purchasing an additional 784 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Sally Beauty Holdings by 37.7% during the first quarter. PNC Financial Services Group Inc. now owns 7,763 shares of the specialty retailer’s stock valued at $158,000 after purchasing an additional 2,125 shares in the last quarter.
Sally Beauty Holdings 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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