Buckingham Research Trims Sally Beauty Holdings, Inc. (SBH) Target Price to $16.00

Sally Beauty Holdings, Inc. (NYSE:SBH) had its price target trimmed by Buckingham Research from $21.00 to $16.00 in a research report released on Thursday. The brokerage currently has a neutral rating on the specialty retailer’s stock.

SBH has been the subject of several other reports. Morgan Stanley cut Sally Beauty Holdings from an equal weight rating to an underweight rating in a report on Wednesday, November 8th. BidaskClub cut Sally Beauty Holdings from a hold rating to a sell rating in a research note on Wednesday, August 23rd. Zacks Investment Research cut Sally Beauty Holdings from a buy rating to a hold rating in a research note on Saturday, October 21st. Cowen and Company restated a buy rating and set a $24.00 price objective on shares of Sally Beauty Holdings in a research note on Thursday, September 28th. Finally, Robert W. Baird set a $24.00 price objective on Sally Beauty Holdings and gave the stock a buy rating in a research note on Tuesday, November 14th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $19.27.

Sally Beauty Holdings (SBH) opened at $15.44 on Thursday. The company has a market capitalization of $1,983.04, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 1.43 and a beta of 0.66. The company has a debt-to-equity ratio of -4.87, a current ratio of 2.04 and a quick ratio of 0.42. Sally Beauty Holdings has a 12-month low of $14.05 and a 12-month high of $27.71.

Sally Beauty Holdings (NYSE:SBH) last issued its earnings results 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 Holdings had a negative return on equity of 74.84% and a net margin of 5.46%. The firm had revenue of $974.20 million during the quarter, compared to analysts’ expectations of $989.96 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. Sally Beauty Holdings’s quarterly revenue was down .2% compared to the same quarter last year. equities research analysts expect that Sally Beauty Holdings will post 1.92 earnings per share for the current fiscal year.

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Sally Beauty Holdings announced that its board has approved a stock 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 purchase up to 40.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

In related news, 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 purchased at an average cost of $17.54 per share, with a total value of $350,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 182,543 shares in the company, valued at $3,201,804.22. The purchase 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 institutional investors have recently bought and sold shares of SBH. Janus Henderson Group PLC acquired a new stake in Sally Beauty Holdings during the second quarter worth about $179,760,000. Burgundy Asset Management Ltd. purchased a new position in Sally Beauty Holdings during the second quarter worth approximately $51,787,000. Balyasny Asset Management LLC boosted its position in Sally Beauty Holdings by 3,189.1% during the second quarter. Balyasny Asset Management LLC now owns 1,849,439 shares of the specialty retailer’s stock worth $37,451,000 after purchasing an additional 1,793,210 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Sally Beauty Holdings during the second quarter worth approximately $24,431,000. Finally, Nordea Investment Management AB boosted its position in Sally Beauty Holdings by 24.7% during the second quarter. Nordea Investment Management AB now owns 6,057,114 shares of the specialty retailer’s stock worth $122,657,000 after purchasing an additional 1,200,950 shares in the last quarter.

Sally Beauty Holdings 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.

Analyst Recommendations for Sally Beauty Holdings (NYSE:SBH)

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