Exchange Traded Concepts LLC boosted its stake in Sally Beauty Holdings, Inc. (NYSE:SBH – Free Report) by 23.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,133 shares of the specialty retailer’s stock after buying an additional 5,869 shares during the period. Exchange Traded Concepts LLC’s holdings in Sally Beauty were worth $384,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Sally Beauty by 143.5% in the third quarter. Royal Bank of Canada now owns 2,187 shares of the specialty retailer’s stock worth $28,000 after buying an additional 1,289 shares during the period. State of Wyoming bought a new position in shares of Sally Beauty in the fourth quarter worth $32,000. Allspring Global Investments Holdings LLC grew its stake in shares of Sally Beauty by 101.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 5,125 shares of the specialty retailer’s stock worth $63,000 after purchasing an additional 2,583 shares in the last quarter. UBS Group AG grew its stake in shares of Sally Beauty by 101.2% in the first quarter. UBS Group AG now owns 5,008 shares of the specialty retailer’s stock worth $78,000 after purchasing an additional 423,610 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Sally Beauty by 34.2% in the first quarter. Captrust Financial Advisors now owns 5,036 shares of the specialty retailer’s stock worth $79,000 after purchasing an additional 1,282 shares in the last quarter.
Analyst Ratings Changes
Several research firms have recently issued reports on SBH. StockNews.com began coverage on Sally Beauty in a research note on Thursday. They issued a “buy” rating for the company. Morgan Stanley decreased their price target on Sally Beauty from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, August 22nd. Finally, DA Davidson decreased their target price on Sally Beauty from $17.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.
Sally Beauty Trading Down 0.6 %
NYSE:SBH opened at $7.92 on Friday. The company has a quick ratio of 0.36, a current ratio of 2.12 and a debt-to-equity ratio of 2.18. Sally Beauty Holdings, Inc. has a 1-year low of $7.78 and a 1-year high of $18.42. The firm has a market capitalization of $853.54 million, a price-to-earnings ratio of 5.32 and a beta of 1.38. The stock has a fifty day simple moving average of $9.77 and a 200 day simple moving average of $11.74.
Sally Beauty (NYSE:SBH – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. The business had revenue of $931.10 million during the quarter, compared to analyst estimates of $945.42 million. Sally Beauty had a return on equity of 52.92% and a net margin of 4.33%. Sally Beauty’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.55 EPS. Sell-side analysts forecast that Sally Beauty Holdings, Inc. will post 1.87 earnings per share for the current year.
About Sally Beauty
Sally Beauty Holdings, Inc operates as a specialty retailer and distributor of professional beauty supplies. The company operates through two segments, Sally Beauty Supply and Beauty Systems Group. The Sally Beauty Supply segment offers beauty products, including hair color and care products, skin and nail care products, styling tools, and other beauty products for retail customers, salons, and salon professionals.
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