Cowen and Company Reiterates $18.00 Price Target for Sally Beauty Holdings, Inc. (SBH)
Sally Beauty Holdings, Inc. (NYSE:SBH) has been given a $18.00 price target by analysts at Cowen and Company in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Cowen and Company’s price target would indicate a potential upside of 18.73% from the stock’s previous close.
Several other research firms also recently issued reports on SBH. DA Davidson raised shares of Sally Beauty Holdings from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Monday, October 16th. Robert W. Baird set a $24.00 price objective on shares of Sally Beauty Holdings and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded shares of Sally Beauty Holdings from a “buy” rating to a “hold” rating in a report on Saturday, October 21st. KeyCorp reaffirmed a “hold” rating on shares of Sally Beauty Holdings in a report on Monday, October 16th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Sally Beauty Holdings in a report on Wednesday, September 13th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $21.38.
Shares of Sally Beauty Holdings (SBH) traded down $0.51 during midday trading on Thursday, reaching $15.16. 8,167,500 shares of the company were exchanged, compared to its average volume of 2,271,800. Sally Beauty Holdings has a 12-month low of $14.22 and a 12-month high of $27.71. The stock has a market capitalization of $2,058.63, a P/E ratio of 8.90, a PEG ratio of 1.43 and a beta of 0.66. The company has a debt-to-equity ratio of -5.07, a current ratio of 2.18 and a quick ratio of 0.43.
Sally Beauty Holdings (NYSE:SBH) last announced its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.02). Sally Beauty Holdings had a negative return on equity of 80.60% and a net margin of 5.89%. The firm had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $989.96 million. During the same period last year, the company posted $0.41 earnings per share. The business’s quarterly revenue was down .2% on a year-over-year basis. equities analysts predict that Sally Beauty Holdings will post 1.81 earnings per share for the current fiscal year.
Sally Beauty Holdings declared that its board has authorized a stock buyback program on Thursday, August 31st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows 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 news, CEO Christian A. Brickman acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average cost of $17.54 per share, for a total transaction of $350,800.00. Following the completion of the transaction, the chief executive officer now owns 182,543 shares in the company, valued at $3,201,804.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward W. Rabin acquired 4,250 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average price of $18.06 per share, with a total value of $76,755.00. Following the completion of the transaction, the director now owns 16,653 shares of the company’s stock, valued at approximately $300,753.18. 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.
A number of institutional investors have recently added to or reduced their stakes in SBH. Teachers Advisors LLC increased its position in Sally Beauty Holdings by 2.2% during the first quarter. Teachers Advisors LLC now owns 144,610 shares of the specialty retailer’s stock worth $2,956,000 after purchasing an additional 3,105 shares during the last quarter. PNC Financial Services Group Inc. increased its position 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 purchasing an additional 2,125 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sally Beauty Holdings by 17.7% during the first quarter. Dimensional Fund Advisors LP now owns 801,616 shares of the specialty retailer’s stock valued at $16,384,000 after acquiring an additional 120,591 shares during the last quarter. UBS Group AG increased its position in shares of Sally Beauty Holdings by 7.5% during the first quarter. UBS Group AG now owns 42,487 shares of the specialty retailer’s stock valued at $869,000 after acquiring an additional 2,964 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Sally Beauty Holdings by 3.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 604,713 shares of the specialty retailer’s stock valued at $12,361,000 after acquiring an additional 20,639 shares during 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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