Sally Beauty Holdings, Inc. (NYSE:SBH) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage presently has a $21.00 price target on the specialty retailer’s stock. DA Davidson’s price objective indicates a potential upside of 20.34% from the stock’s previous close.

Several other equities analysts have also weighed in on SBH. BidaskClub raised shares of Sally Beauty Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Wells Fargo & Company reissued a “market perform” rating and issued a $20.00 price objective (down from $21.50) on shares of Sally Beauty Holdings in a research report on Wednesday, August 9th. Cowen and Company reissued a “buy” rating and issued a $24.00 price objective on shares of Sally Beauty Holdings in a research report on Thursday, September 28th. BMO Capital Markets set a $21.00 price objective on shares of Sally Beauty Holdings and gave the company a “hold” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research lowered shares of Sally Beauty Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Sally Beauty Holdings has a consensus rating of “Hold” and a consensus price target of $23.89.

Sally Beauty Holdings (NYSE:SBH) traded up 2.149% during mid-day trading on Monday, reaching $17.825. 301,624 shares of the company’s stock traded hands. The firm has a 50 day moving average of $19.45 and a 200 day moving average of $19.45. The firm has a market cap of $2.36 billion, a PE ratio of 10.882 and a beta of 0.70. Sally Beauty Holdings has a 1-year low of $17.10 and a 1-year high of $30.17.

Sally Beauty Holdings (NYSE:SBH) last issued its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The company had revenue of $998.04 million for the quarter, compared to analyst estimates of $1 billion. Sally Beauty Holdings had a net margin of 5.89% and a negative return on equity of 80.60%. The company’s revenue 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 forecast that Sally Beauty Holdings will post $1.82 EPS for the current year.

Sally Beauty Holdings announced that its Board of Directors has initiated a share repurchase program on Thursday, August 31st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 40.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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In other news, Director Edward W. Rabin acquired 4,250 shares of Sally Beauty Holdings stock in a transaction on Monday, August 21st. The shares were purchased at an average cost of $18.06 per share, for a total transaction of $76,755.00. Following the completion of the purchase, the director now directly owns 16,653 shares of the company’s stock, valued at approximately $300,753.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christian A. Brickman acquired 20,000 shares of Sally Beauty Holdings stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average price of $17.54 per share, for a total transaction of $350,800.00. Following the completion of the purchase, the chief executive officer now directly owns 182,543 shares of the company’s stock, valued at $3,201,804.22. The disclosure for this purchase can be found here. Insiders have acquired 34,250 shares of company stock worth $606,555 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. US Bancorp DE grew its stake in Sally Beauty Holdings by 227.6% during the second quarter. US Bancorp DE now owns 5,100 shares of the specialty retailer’s stock worth $103,000 after buying an additional 3,543 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in 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 worth $110,000 after buying an additional 559 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in 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 worth $158,000 after buying an additional 2,125 shares in the last quarter. Flinton Capital Management LLC grew its stake in Sally Beauty Holdings by 86.8% during the second quarter. Flinton Capital Management LLC now owns 7,952 shares of the specialty retailer’s stock worth $161,000 after buying an additional 3,696 shares in the last quarter. Finally, M&T Bank Corp grew its stake in Sally Beauty Holdings by 0.6% during the second quarter. M&T Bank Corp now owns 10,373 shares of the specialty retailer’s stock worth $210,000 after buying an additional 65 shares in the last quarter.

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.

Analyst Recommendations for Sally Beauty Holdings (NYSE:SBH)

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