Regis (NASDAQ:RGS) Shares Up 2% – Still a Buy?

Regis Corp (NASDAQ:RGS) shares shot up 2% during mid-day trading on Wednesday. The company traded as high as $28.23 and last traded at $27.55. 6,222 shares traded hands during trading, a decline of 32% from the average daily volume of 9,193 shares. The stock had previously closed at $27.00.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regis in a research report on Wednesday, August 26th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Regis presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Regis Trading Down 0.6%

The company has a 50 day moving average of $27.78 and a two-hundred day moving average of $26.94. The stock has a market capitalization of $70.90 million, a PE ratio of 11.72 and a beta of 1.42. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.62.

Regis (NASDAQ:RGS) last released its quarterly earnings results on Tuesday, September 1st. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.87. The company had revenue of $56.00 million during the quarter, compared to analysts’ expectations of $53.00 million. Regis had a return on equity of 4.10% and a net margin of 3.09%.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Regis stock. Renaissance Technologies LLC grew its position in Regis Corp (NASDAQ:RGS) by 12.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,044 shares of the company’s stock after purchasing an additional 1,700 shares during the period. Renaissance Technologies LLC owned approximately 0.60% of Regis worth $371,000 at the end of the most recent quarter. 31.50% of the stock is owned by institutional investors.

About Regis

Regis Corporation (NASDAQ: RGS) is a hair salon franchising and support company. It provides franchisees with branding, salon concepts, operating systems, marketing, training and other business support services, while franchise owners operate most locations.

The company’s portfolio has included well-known salon brands such as Supercuts, SmartStyle, Cost Cutters, First Choice Haircutters and Roosters Men’s Grooming Center. Its salons offer haircutting, styling, coloring and other hair-care services, with SmartStyle locations primarily operating in Walmart stores.

Founded in 1922, Regis historically operated a large network of company-owned salons before shifting toward an asset-light, primarily franchised business model.