Sally Beauty (NYSE:SBH) Trading 17.4% Higher

Sally Beauty Holdings, Inc. (NYSE:SBH)’s stock price traded up 17.4% during mid-day trading on Wednesday . The stock traded as high as $9.20 and last traded at $10.59, 257,680 shares traded hands during mid-day trading. A decline of 92% from the average session volume of 3,233,004 shares. The stock had previously closed at $9.02.

Several equities research analysts have recently issued reports on the company. Wells Fargo & Co lowered their price objective on Sally Beauty from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, March 16th. Morgan Stanley lowered their price objective on Sally Beauty from $14.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, March 17th. Zacks Investment Research lowered Sally Beauty from a “hold” rating to a “sell” rating and set a $9.50 price objective for the company. in a research note on Tuesday. ValuEngine lowered Sally Beauty from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Finally, DA Davidson raised Sally Beauty from an “underperform” rating to a “neutral” rating and set a $15.00 price objective for the company in a research note on Tuesday, January 21st. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Sally Beauty currently has an average rating of “Hold” and a consensus price target of $12.64.

The firm has a market capitalization of $1.19 billion, a P/E ratio of 4.58, a price-to-earnings-growth ratio of 0.90 and a beta of 0.67. The firm has a 50 day moving average price of $11.89 and a 200-day moving average price of $15.44. The company has a current ratio of 2.00, a quick ratio of 0.33 and a debt-to-equity ratio of 717.80.

Sally Beauty (NYSE:SBH) last posted its quarterly earnings data on Thursday, February 6th. The specialty retailer reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.09). The company had revenue of $980.21 million during the quarter, compared to the consensus estimate of $995.21 million. Sally Beauty had a net margin of 6.70% and a negative return on equity of 376.67%. Sally Beauty’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 earnings per share. Research analysts anticipate that Sally Beauty Holdings, Inc. will post 2.21 earnings per share for the current year.

In other Sally Beauty news, CEO Christian A. Brickman purchased 7,650 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average cost of $12.42 per share, with a total value of $95,013.00. Also, Chairman Robert R. Mcmaster purchased 4,500 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average cost of $12.35 per share, with a total value of $55,575.00. Following the completion of the purchase, the chairman now directly owns 67,779 shares in the company, valued at approximately $837,070.65. The disclosure for this purchase can be found here. Insiders have purchased a total of 28,150 shares of company stock valued at $357,508 over the last three months. 2.62% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of SBH. First Trust Advisors LP lifted its stake in shares of Sally Beauty by 20.0% during the 1st quarter. First Trust Advisors LP now owns 76,690 shares of the specialty retailer’s stock worth $1,412,000 after acquiring an additional 12,797 shares during the last quarter. Andra AP fonden bought a new stake in shares of Sally Beauty during the 3rd quarter worth approximately $1,179,000. California State Teachers Retirement System lifted its stake in shares of Sally Beauty by 1.3% during the 3rd quarter. California State Teachers Retirement System now owns 196,678 shares of the specialty retailer’s stock worth $2,929,000 after acquiring an additional 2,494 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Sally Beauty by 15.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 933,352 shares of the specialty retailer’s stock worth $13,898,000 after acquiring an additional 124,437 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of Sally Beauty by 533.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 257,306 shares of the specialty retailer’s stock worth $3,831,000 after acquiring an additional 216,656 shares during the last quarter.

About Sally Beauty (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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