Sally Beauty (SBH) Shares Up 5.1%

Sally Beauty Holdings, Inc. (NYSE:SBH) shares shot up 5.1% during mid-day trading on Thursday . The company traded as high as $18.77 and last traded at $18.64. 1,302,099 shares were traded during mid-day trading, a decline of 17% from the average session volume of 1,562,075 shares. The stock had previously closed at $17.73.

A number of brokerages have issued reports on SBH. Nomura reduced their price objective on Sally Beauty from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, November 16th. Cowen set a $18.00 price objective on Sally Beauty and gave the company a “buy” rating in a research note on Thursday, November 16th. DA Davidson raised Sally Beauty from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Monday, October 16th. BMO Capital Markets dropped their price target on Sally Beauty from $21.00 to $16.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 15th. Finally, Buckingham Research dropped their price target on Sally Beauty from $21.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, November 16th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. Sally Beauty presently has a consensus rating of “Hold” and a consensus target price of $18.55.

The company has a current ratio of 2.04, a quick ratio of 0.42 and a debt-to-equity ratio of -4.87. The stock has a market capitalization of $2,370.00, a PE ratio of 12.03, a P/E/G ratio of 1.68 and a beta of 0.65.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Sally Beauty had a net margin of 5.46% and a negative return on equity of 74.84%. The firm had revenue of $974.20 million for the quarter, compared to analysts’ expectations of $989.96 million. During the same period in the prior year, the company earned $0.41 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. equities analysts forecast that Sally Beauty Holdings, Inc. will post 1.93 EPS for the current year.

In related news, Director Edward W. Rabin acquired 3,750 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now owns 14,351 shares of the company’s stock, valued at approximately $222,296.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.48% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SBH. Legal & General Group Plc lifted its holdings in Sally Beauty by 16.6% during the 2nd quarter. Legal & General Group Plc now owns 160,907 shares of the specialty retailer’s stock worth $3,259,000 after purchasing an additional 22,877 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Sally Beauty by 185.3% during the 2nd quarter. Prudential Financial Inc. now owns 389,996 shares of the specialty retailer’s stock worth $7,897,000 after purchasing an additional 253,323 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sally Beauty by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the specialty retailer’s stock worth $110,000 after purchasing an additional 559 shares in the last quarter. South Dakota Investment Council purchased a new stake in Sally Beauty during the 2nd quarter worth about $853,000. Finally, Alliancebernstein L.P. lifted its holdings in Sally Beauty by 0.6% during the 2nd quarter. Alliancebernstein L.P. now owns 88,272 shares of the specialty retailer’s stock worth $1,788,000 after purchasing an additional 490 shares in 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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