Sally Beauty Holdings, Inc. (SBH) Shares Gap Down to $15.14

Sally Beauty Holdings, Inc. (NYSE:SBH)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $15.43, but opened at $15.14. Sally Beauty Holdings shares last traded at $15.67, with a volume of 4532300 shares changing hands.

A number of brokerages recently issued reports on SBH. DA Davidson upgraded shares of Sally Beauty Holdings from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Monday, October 16th. Zacks Investment Research cut shares of Sally Beauty Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, October 21st. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Sally Beauty Holdings in a research report on Wednesday, September 13th. KeyCorp reiterated a “hold” rating on shares of Sally Beauty Holdings in a research report on Monday, October 16th. Finally, Morgan Stanley cut shares of Sally Beauty Holdings from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.13.

The company has a quick ratio of 0.43, a current ratio of 2.18 and a debt-to-equity ratio of -5.07. The firm has a market capitalization of $1,989.00, a price-to-earnings ratio of 8.60, a P/E/G ratio of 1.37 and a beta of 0.66.

Sally Beauty Holdings (NYSE:SBH) last issued its quarterly earnings data on Monday, November 13th. The specialty retailer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). Sally Beauty Holdings had a negative return on equity of 80.60% and a net margin of 5.89%. The company had revenue of $974.20 million for the quarter, compared to the consensus estimate of $989.96 million. During the same period in the prior year, the company earned $0.41 EPS. The firm’s revenue was down .2% compared to the same quarter last year. research analysts forecast that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current year.

Sally Beauty Holdings announced that its Board of Directors has approved a share repurchase program on Thursday, August 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 40.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In related news, Director Edward W. Rabin acquired 4,250 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were purchased at an average price of $18.06 per share, with a total value of $76,755.00. Following the acquisition, the director now directly owns 16,653 shares in the company, valued at $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 acquired 10,000 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were bought at an average cost of $17.90 per share, for a total transaction of $179,000.00. Following the acquisition, the chief executive officer now owns 172,543 shares in the company, valued at $3,088,519.70. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 34,250 shares of company stock worth $606,555. Insiders own 0.97% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. M&T Bank Corp boosted its stake in shares of Sally Beauty Holdings by 0.6% in the 2nd quarter. M&T Bank Corp now owns 10,373 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 65 shares during the last quarter. Scotia Capital Inc. boosted its stake in shares of Sally Beauty Holdings by 0.9% in the 2nd quarter. Scotia Capital Inc. now owns 22,550 shares of the specialty retailer’s stock valued at $457,000 after purchasing an additional 200 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Sally Beauty Holdings by 0.6% in the 2nd quarter. Alliancebernstein L.P. now owns 88,272 shares of the specialty retailer’s stock valued at $1,788,000 after purchasing an additional 490 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Sally Beauty Holdings by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the specialty retailer’s stock valued at $110,000 after purchasing an additional 559 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Sally Beauty Holdings by 4.8% in the 2nd quarter. Pacer Advisors Inc. now owns 15,110 shares of the specialty retailer’s stock valued at $306,000 after purchasing an additional 692 shares during the last quarter.

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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.

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