Sally Beauty Holdings’ (SBH) Neutral Rating Reiterated at DA Davidson

DA Davidson reissued their neutral rating on shares of Sally Beauty Holdings, Inc. (NYSE:SBH) in a research report released on Friday. They currently have a $21.00 target price on the specialty retailer’s stock, down from their prior target price of $23.00.

Several other equities analysts also recently weighed in on SBH. BidaskClub upgraded Sally Beauty Holdings from a sell rating to a hold rating in a research report on Wednesday, August 9th. Wells Fargo & Company reiterated a market perform rating and set a $20.00 target price (down from $21.50) on shares of Sally Beauty Holdings in a research report on Wednesday, August 9th. KeyCorp reiterated a hold rating on shares of Sally Beauty Holdings in a research report on Wednesday, September 6th. BMO Capital Markets set a $21.00 target price on Sally Beauty Holdings and gave the stock a hold rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research downgraded Sally Beauty Holdings from a hold rating to a sell rating in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $24.50.

Shares of Sally Beauty Holdings (NYSE SBH) opened at 19.55 on Friday. Sally Beauty Holdings has a one year low of $17.26 and a one year high of $30.17. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 11.94 and a beta of 0.66. The company has a 50-day moving average of $19.52 and a 200 day moving average of $19.74.

Sally Beauty Holdings (NYSE:SBH) last released its earnings results on Thursday, August 3rd. The specialty retailer reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Sally Beauty Holdings had a negative return on equity of 80.60% and a net margin of 5.89%. The firm had revenue of $998.04 million for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts forecast that Sally Beauty Holdings will post $1.82 earnings per share for the current fiscal year.

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Sally Beauty Holdings declared that its board has approved a share repurchase program on Thursday, August 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase up to 40.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

In related news, Director Edward W. Rabin bought 4,250 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average cost of $18.06 per share, for a total transaction of $76,755.00. Following the acquisition, the director now owns 16,653 shares in the company, valued at approximately $300,753.18. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christian A. Brickman bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were bought at an average price of $17.54 per share, for a total transaction of $350,800.00. Following the completion of the acquisition, the chief executive officer now owns 182,543 shares in the company, valued at approximately $3,201,804.22. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 34,250 shares of company stock worth $606,555. Company insiders own 0.97% of the company’s stock.

Large investors have recently made changes to their positions in the stock. US Bancorp DE raised its holdings in shares of Sally Beauty Holdings by 227.6% during the 2nd quarter. US Bancorp DE now owns 5,100 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 3,543 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sally Beauty Holdings by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the specialty retailer’s stock valued at $110,000 after buying an additional 559 shares during the period. Meadow Creek Investment Management LLC raised its holdings in shares of Sally Beauty Holdings by 11.8% during the 1st quarter. Meadow Creek Investment Management LLC now owns 5,852 shares of the specialty retailer’s stock valued at $120,000 after buying an additional 616 shares during the period. Glen Harbor Capital Management LLC raised its holdings in shares of Sally Beauty Holdings by 11.8% during the 1st quarter. Glen Harbor Capital Management LLC now owns 7,448 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 784 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Sally Beauty Holdings by 37.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,763 shares of the specialty retailer’s stock valued at $158,000 after buying an additional 2,125 shares during the period.

About Sally Beauty Holdings

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.

Analyst Recommendations for Sally Beauty Holdings (NYSE:SBH)

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