Sally Beauty (NYSE:SBH) Stock Price Down 5.3%

Sally Beauty Holdings, Inc. (NYSE:SBH)’s stock price fell 5.3% on Wednesday . The company traded as low as $12.84 and last traded at $12.84, 1,555,146 shares changed hands during trading. A decline of 14% from the average session volume of 1,816,135 shares. The stock had previously closed at $13.56.

A number of brokerages have recently issued reports on SBH. Zacks Investment Research raised shares of Sally Beauty from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Wells Fargo & Co reissued a “hold” rating on shares of Sally Beauty in a report on Tuesday, June 25th. ValuEngine downgraded shares of Sally Beauty from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. Jefferies Financial Group raised shares of Sally Beauty from an “underperform” rating to a “hold” rating and lowered their price target for the stock from $14.00 to $12.00 in a report on Friday, July 12th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised shares of Sally Beauty to a “market perform” rating and set a $17.00 price target on the stock in a report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.08.

The stock has a market capitalization of $1.59 billion, a PE ratio of 5.94, a PEG ratio of 1.99 and a beta of 0.44. The firm has a fifty day moving average price of $12.64.

Sally Beauty (NYSE:SBH) last announced its earnings results on Wednesday, July 31st. The specialty retailer reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $975.20 million for the quarter, compared to the consensus estimate of $986.27 million. Sally Beauty had a net margin of 6.65% and a negative return on equity of 151.31%. Sally Beauty’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. Equities analysts forecast that Sally Beauty Holdings, Inc. will post 2.21 earnings per share for the current year.

In related news, CEO Christian A. Brickman bought 5,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average cost of $14.93 per share, with a total value of $74,650.00. Following the completion of the purchase, the chief executive officer now directly owns 360,332 shares of the company’s stock, valued at approximately $5,379,756.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward W. Rabin bought 7,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $13.25 per share, for a total transaction of $92,750.00. Following the completion of the purchase, the director now directly owns 19,732 shares of the company’s stock, valued at $261,449. The disclosure for this purchase can be found here. Insiders purchased 13,500 shares of company stock worth $189,795 over the last ninety days. 1.04% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SBH. Prudential Financial Inc. raised its stake in Sally Beauty by 225.7% in the second quarter. Prudential Financial Inc. now owns 2,394,550 shares of the specialty retailer’s stock valued at $31,943,000 after purchasing an additional 1,659,403 shares in the last quarter. Norges Bank purchased a new stake in Sally Beauty in the fourth quarter valued at approximately $23,087,000. Champlain Investment Partners LLC raised its stake in Sally Beauty by 13.1% in the first quarter. Champlain Investment Partners LLC now owns 8,444,630 shares of the specialty retailer’s stock valued at $155,466,000 after purchasing an additional 976,690 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Sally Beauty by 2,747.1% during the first quarter. Robeco Institutional Asset Management B.V. now owns 867,045 shares of the specialty retailer’s stock worth $15,966,000 after acquiring an additional 836,591 shares in the last quarter. Finally, Ardevora Asset Management LLP raised its stake in shares of Sally Beauty by 41.5% during the second quarter. Ardevora Asset Management LLP now owns 2,769,200 shares of the specialty retailer’s stock worth $36,941,000 after acquiring an additional 812,700 shares in the last quarter.

Sally Beauty Company Profile (NYSE:SBH)

Sally Beauty Holdings, Inc operates as a specialty retailer and distributor of professional beauty supplies. The company operates through two segments, Sally Beauty Supply and Beauty Systems Group. The Sally Beauty Supply segment offers beauty products, including hair color and care, skin and nail care, styling tools, and other beauty products for retail customers and salon professionals.

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