Sally Beauty (NYSE:SBH)‘s stock had its “buy” rating restated by equities research analysts at Robert W. Baird in a research note issued on Friday. They currently have a $21.00 price objective on the specialty retailer’s stock. Robert W. Baird’s target price indicates a potential upside of 12.42% from the company’s previous close.
Several other equities research analysts also recently weighed in on the company. DA Davidson downgraded Sally Beauty from a “buy” rating to a “neutral” rating and cut their price objective for the company from $21.00 to $16.00 in a report on Sunday, November 26th. KeyCorp reissued a “hold” rating on shares of Sally Beauty in a report on Friday, November 24th. Zacks Investment Research lowered Sally Beauty from a “hold” rating to a “sell” rating in a research report on Saturday, November 18th. Bank of America lowered their target price on Sally Beauty from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, November 16th. Finally, Morgan Stanley lowered their target price on Sally Beauty from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Thursday, November 16th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. Sally Beauty currently has a consensus rating of “Hold” and a consensus price target of $18.55.
Shares of Sally Beauty (SBH) opened at $18.68 on Friday. The company has a quick ratio of 0.42, a current ratio of 2.04 and a debt-to-equity ratio of -4.87. Sally Beauty has a twelve month low of $14.05 and a twelve month high of $26.98. The firm has a market capitalization of $2,321.91, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.70 and a beta of 0.66.
Sally Beauty (NYSE:SBH) last released its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.02). Sally Beauty had a net margin of 5.46% and a negative return on equity of 74.84%. The firm had revenue of $974.20 million for the quarter, compared to analyst estimates of $989.96 million. During the same period last year, the business earned $0.41 EPS. The company’s revenue was down .2% compared to the same quarter last year. equities research analysts expect that Sally Beauty will post 1.91 earnings per share for the current year.
Sally Beauty declared that its Board of Directors has initiated a stock buyback program on Thursday, August 31st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase 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 other Sally Beauty news, Director Edward W. Rabin acquired 3,750 shares of the stock in a transaction dated Tuesday, November 21st. The stock was purchased at an average cost of $15.49 per share, with a total value of $58,087.50. Following the transaction, the director now owns 14,351 shares in the company, valued at approximately $222,296.99. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.97% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Burgundy Asset Management Ltd. increased its position in Sally Beauty by 21.6% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 3,110,584 shares of the specialty retailer’s stock valued at $60,905,000 after buying an additional 553,203 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Sally Beauty by 40.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 275,027 shares of the specialty retailer’s stock valued at $5,385,000 after purchasing an additional 79,015 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Sally Beauty in the 3rd quarter worth approximately $197,000. California Public Employees Retirement System boosted its stake in shares of Sally Beauty by 7.7% in the 3rd quarter. California Public Employees Retirement System now owns 441,721 shares of the specialty retailer’s stock worth $8,649,000 after buying an additional 31,721 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Sally Beauty in the 3rd quarter worth approximately $1,430,000.
Sally Beauty Company Profile
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.