Sally Beauty (NYSE:SBH) has been assigned a $21.00 price objective by investment analysts at Robert W. Baird in a research report issued on Friday. The brokerage presently has a “buy” rating on the specialty retailer’s stock. Robert W. Baird’s price target suggests a potential upside of 12.42% from the stock’s previous close.
Several other brokerages have also recently issued reports on SBH. Oppenheimer reissued a “hold” rating on shares of Sally Beauty in a research note on Wednesday, September 13th. Cowen reissued a “buy” rating and issued a $24.00 price objective on shares of Sally Beauty in a research note on Thursday, September 28th. DA Davidson reissued a “neutral” rating and issued a $21.00 price objective (down previously from $23.00) on shares of Sally Beauty in a research note on Friday, September 8th. KeyCorp reissued a “hold” rating on shares of Sally Beauty in a research note on Wednesday, September 6th. Finally, Zacks Investment Research cut Sally Beauty from a “buy” rating to a “hold” rating in a research note on Saturday, October 21st. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. Sally Beauty has an average rating of “Hold” and an average target price of $18.55.
Sally Beauty (NYSE:SBH) traded up $0.40 on Friday, hitting $18.68. The stock had a trading volume of 1,620,700 shares, compared to its average volume of 2,266,863. The company has a market capitalization of $2,372.72, a PE ratio of 12.05, a price-to-earnings-growth ratio of 1.74 and a beta of 0.66. Sally Beauty has a 1 year low of $14.05 and a 1 year high of $26.98. The company has a debt-to-equity ratio of -4.87, a quick ratio of 0.42 and a current ratio of 2.04.
Sally Beauty announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 40.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
In related news, Director Edward W. Rabin bought 3,750 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were acquired at an average price of $15.49 per share, with a total value of $58,087.50. Following the transaction, the director now owns 14,351 shares of the company’s stock, valued at $222,296.99. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.48% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC purchased a new stake in shares of Sally Beauty during the 2nd quarter valued at $179,760,000. Burgundy Asset Management Ltd. purchased a new stake in shares of Sally Beauty during the 2nd quarter valued at $51,787,000. Balyasny Asset Management LLC lifted its holdings in shares of Sally Beauty by 3,189.1% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,849,439 shares of the specialty retailer’s stock valued at $37,451,000 after purchasing an additional 1,793,210 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Sally Beauty during the 2nd quarter valued at $24,431,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Sally Beauty by 24.7% during the 2nd quarter. Nordea Investment Management AB now owns 6,057,114 shares of the specialty retailer’s stock valued at $122,657,000 after purchasing an additional 1,200,950 shares during the last quarter.
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Sally Beauty 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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