Sally Beauty (NYSE:SBH) Sets New 52-Week High Following Earnings Beat

Sally Beauty Holdings, Inc. (NYSE:SBH)’s stock price hit a new 52-week high during trading 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 trading hands. The stock had previously closed at $15.96.

The specialty retailer reported $0.50 EPS for the quarter, topping the 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 firm had revenue of $936.02 million during the quarter, compared to analyst estimates of $967.74 million. During the same quarter in the previous year, the business posted $0.47 EPS. Sally Beauty’s revenue was down 4.5% on a year-over-year basis.

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

In related news, Director Edward W. Rabin acquired 4,000 shares of Sally Beauty stock in a transaction on Tuesday, November 17th. The stock was bought at an average cost of $11.04 per share, for a total transaction of $44,160.00. Following the completion of the transaction, the director now owns 31,826 shares of the company’s stock, valued at approximately $351,359.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christian A. Brickman acquired 11,350 shares of Sally Beauty stock in a transaction on Tuesday, November 17th. The shares were bought at an average price of $10.94 per share, with a total value of $124,169.00. Following the completion of 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.

Several hedge funds and other institutional investors have recently modified their holdings of SBH. Nisa Investment Advisors LLC acquired a new stake in shares of Sally Beauty in the third quarter valued at about $25,000. Canton Hathaway LLC acquired a new stake in shares of Sally Beauty in the third quarter valued at about $50,000. Advisor Group Holdings Inc. raised its position in shares of Sally Beauty by 25.8% in the second quarter. Advisor Group Holdings Inc. now owns 5,596 shares of the specialty retailer’s stock valued at $69,000 after buying an additional 1,148 shares during the last quarter. Cypress Point Wealth Management LLC acquired a new stake in shares of Sally Beauty in the fourth quarter valued at about $71,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Sally Beauty in the third quarter valued at about $113,000.

The stock’s 50-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 PEG ratio of 0.24 and a beta of 1.54. The company has a quick ratio of 1.10, a current ratio of 2.54 and a debt-to-equity ratio of 116.36.

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, salons, and salon professionals.

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