Sally Beauty (NYSE:SBH) Reaches New 1-Year High Following Earnings Beat

Sally Beauty Holdings, Inc. (NYSE:SBH)’s stock price hit a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $17.15 and last traded at $15.67, with a volume of 14947 shares changing hands. The stock had previously closed at $15.96.

The specialty retailer reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. Sally Beauty had a net margin of 3.22% and a negative return on equity of 535.36%. The business had revenue of $936.02 million for the quarter, compared to the consensus estimate of $967.74 million. During the same quarter last year, the firm posted $0.47 EPS. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year.

A number of research analysts have commented on SBH shares. DA Davidson decreased their target price on Sally Beauty from $12.50 to $11.00 and set a “neutral” rating for the company in a research report on Friday, November 13th. Bank of America lowered their price objective on shares of Sally Beauty from $12.00 to $11.00 and set an “underperform” rating for the company in a research report on Monday, November 16th. Morgan Stanley lifted their price objective on shares of Sally Beauty from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday. Zacks Investment Research downgraded shares of Sally Beauty from a “buy” rating to a “hold” rating and set a $9.00 target price for the company. in a research note on Tuesday, November 3rd. Finally, Oppenheimer dropped their price target on shares of Sally Beauty from $19.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Sally Beauty presently has an average rating of “Hold” and an average price target of $12.00.

In related news, Director Edward W. Rabin bought 4,000 shares of the business’s stock in a transaction dated Tuesday, November 17th. The shares were acquired at an average price of $11.04 per share, for a total transaction of $44,160.00. Following the purchase, the director now owns 31,826 shares in the company, valued at approximately $351,359.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christian A. Brickman purchased 11,350 shares of Sally Beauty stock in a transaction dated Tuesday, November 17th. The shares were bought at an average cost of $10.94 per share, for a total transaction of $124,169.00. Following the transaction, the chief executive officer now directly owns 457,571 shares of the company’s stock, valued at approximately $5,005,826.74. The disclosure for this purchase can be found here. Corporate insiders own 3.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hussman Strategic Advisors Inc. grew its position in shares of Sally Beauty by 0.5% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 205,000 shares of the specialty retailer’s stock worth $2,673,000 after acquiring an additional 1,000 shares in the last quarter. Advisor Group Holdings Inc. lifted its stake in Sally Beauty by 25.8% during the second quarter. Advisor Group Holdings Inc. now owns 5,596 shares of the specialty retailer’s stock worth $69,000 after purchasing an additional 1,148 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in Sally Beauty by 2.4% in the third quarter. Great West Life Assurance Co. Can now owns 59,885 shares of the specialty retailer’s stock worth $520,000 after purchasing an additional 1,405 shares during the period. Envestnet Asset Management Inc. increased its stake in Sally Beauty by 9.7% during the third quarter. Envestnet Asset Management Inc. now owns 31,536 shares of the specialty retailer’s stock valued at $274,000 after purchasing an additional 2,791 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Sally Beauty during the third quarter worth $25,000.

The company has a debt-to-equity ratio of 116.36, a quick ratio of 1.10 and a current ratio of 2.54. The company’s fifty day moving average price is $13.68 and its 200 day moving average price is $11.67. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 0.24 and a beta of 1.54.

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, salons, and salon professionals.

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