Scotia Capital Inc. Boosts Stake in Sally Beauty Holdings, Inc. (SBH)
Scotia Capital Inc. grew its position in Sally Beauty Holdings, Inc. (NYSE:SBH) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,550 shares of the specialty retailer’s stock after purchasing an additional 200 shares during the quarter. Scotia Capital Inc.’s holdings in Sally Beauty Holdings were worth $457,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of SBH. Empire Life Investments Inc. grew its position in shares of Sally Beauty Holdings by 7.3% in the first quarter. Empire Life Investments Inc. now owns 16,846 shares of the specialty retailer’s stock valued at $438,000 after purchasing an additional 1,151 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Sally Beauty Holdings in the first quarter valued at approximately $675,000. UBS Asset Management Americas Inc. grew its position in shares of Sally Beauty Holdings by 12.1% in the first quarter. UBS Asset Management Americas Inc. now owns 142,980 shares of the specialty retailer’s stock valued at $2,923,000 after purchasing an additional 15,460 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Sally Beauty Holdings by 23.0% in the first quarter. Prudential Financial Inc. now owns 136,673 shares of the specialty retailer’s stock valued at $2,794,000 after purchasing an additional 25,538 shares during the last quarter. Finally, Credit Agricole S A acquired a new position in shares of Sally Beauty Holdings in the first quarter valued at approximately $442,000.
Several equities analysts have recently commented on the company. DA Davidson raised Sally Beauty Holdings from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Monday. BidaskClub raised Sally Beauty Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. KeyCorp reaffirmed a “hold” rating on shares of Sally Beauty Holdings in a research report on Wednesday, September 6th. BMO Capital Markets set a $21.00 target price on Sally Beauty Holdings and gave the company a “hold” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research raised Sally Beauty Holdings from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Sally Beauty Holdings currently has an average rating of “Hold” and a consensus target price of $23.67.
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In other Sally Beauty Holdings news, CEO Christian A. Brickman acquired 20,000 shares of Sally Beauty Holdings stock in a transaction that occurred on Wednesday, August 23rd. The stock was acquired at an average cost of $17.54 per share, for a total transaction of $350,800.00. Following the purchase, the chief executive officer now owns 182,543 shares of the company’s stock, valued at $3,201,804.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward W. Rabin acquired 4,250 shares of Sally Beauty Holdings stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of $18.06 per share, with a total value of $76,755.00. Following the completion of the purchase, the director now directly owns 16,653 shares in the company, valued at approximately $300,753.18. The disclosure for this purchase can be found here. Insiders purchased a total of 34,250 shares of company stock valued at $606,555 over the last quarter. 0.97% of the stock is owned by company insiders.
Shares of Sally Beauty Holdings, Inc. (SBH) opened at 17.78 on Tuesday. The firm has a market cap of $2.36 billion, a P/E ratio of 10.85 and a beta of 0.70. The company’s 50-day moving average price is $19.45 and its 200-day moving average price is $19.45. Sally Beauty Holdings, Inc. has a 12 month low of $17.10 and a 12 month high of $30.17.
Sally Beauty Holdings (NYSE:SBH) last released its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Sally Beauty Holdings had a net margin of 5.89% and a negative return on equity of 80.60%. The business had revenue of $998.04 million during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business earned $0.47 EPS. Sally Beauty Holdings’s revenue was up .0% compared to the same quarter last year. On average, analysts predict that Sally Beauty Holdings, Inc. will post $1.82 EPS for the current year.
Sally Beauty Holdings declared that its board has authorized a share repurchase plan on Thursday, August 31st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 40.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
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.
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