Buckingham Research Cuts Sally Beauty (NYSE:SBH) Price Target to $16.00

Sally Beauty (NYSE:SBH) had its target price decreased by Buckingham Research from $21.00 to $16.00 in a research note issued to investors on Thursday, November 16th. Buckingham Research currently has a neutral rating on the specialty retailer’s stock.

Several other analysts have also recently commented on the company. BidaskClub raised Sally Beauty from a sell rating to a hold rating in a research report on Wednesday, August 9th. Wells Fargo & Company reaffirmed a market perform rating and issued a $20.00 target price (down previously from $21.50) on shares of Sally Beauty in a research report on Wednesday, August 9th. BMO Capital Markets set a $21.00 target price on Sally Beauty and gave the stock a hold rating in a research report on Saturday, August 5th. Oppenheimer reiterated a hold rating on shares of Sally Beauty in a report on Wednesday, September 13th. Finally, Cowen reiterated a buy rating and set a $24.00 price objective on shares of Sally Beauty in a report on Thursday, September 28th. Three research 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. The stock has a consensus rating of Hold and an average target price of $18.82.

Sally Beauty (SBH) opened at $16.96 on Thursday. Sally Beauty has a 1 year low of $14.05 and a 1 year high of $27.71. The stock has a market capitalization of $2,178.26, a price-to-earnings ratio of 9.42, a PEG ratio of 1.58 and a beta of 0.66. The company has a debt-to-equity ratio of -4.87, a quick ratio of 0.42 and a current ratio of 2.04.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). The firm had revenue of $974.20 million for the quarter, compared to analyst estimates of $989.96 million. Sally Beauty had a net margin of 5.46% and a negative return on equity of 74.84%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. sell-side analysts predict that Sally Beauty will post 1.91 earnings per share for the current year.

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

In other news, Director Edward W. Rabin bought 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were acquired at an average cost of $15.49 per share, with a total value of $58,087.50. Following the completion of the transaction, the director now directly owns 14,351 shares in the company, valued at $222,296.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in SBH. US Bancorp DE boosted its holdings in Sally Beauty by 227.6% during the second quarter. US Bancorp DE now owns 5,100 shares of the specialty retailer’s stock valued at $103,000 after purchasing an additional 3,543 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Sally Beauty by 11.5% during the second 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 in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Sally Beauty by 37.7% during the first quarter. PNC Financial Services Group Inc. now owns 7,763 shares of the specialty retailer’s stock valued at $158,000 after purchasing an additional 2,125 shares in the last quarter. Flinton Capital Management LLC boosted its holdings in Sally Beauty by 86.8% during the second quarter. Flinton Capital Management LLC now owns 7,952 shares of the specialty retailer’s stock valued at $161,000 after purchasing an additional 3,696 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Sally Beauty during the third quarter valued at approximately $197,000.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by Week Herald and is the sole property of of Week Herald. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://weekherald.com/2017/12/04/sally-beauty-holdings-inc-sbh-price-target-cut-to-16-00.html.

About Sally Beauty

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 (NYSE:SBH)

Receive News & Ratings for Sally Beauty Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sally Beauty Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply