Louisiana State Employees Retirement System Invests $716,000 in Sally Beauty Holdings, Inc. (NYSE:SBH)

Louisiana State Employees Retirement System purchased a new position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,900 shares of the specialty retailer’s stock, valued at approximately $716,000. Louisiana State Employees Retirement System owned approximately 0.05% of Sally Beauty as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Sally Beauty by 92.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,872 shares of the specialty retailer’s stock worth $83,000 after purchasing an additional 4,747 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of Sally Beauty during the third quarter worth $89,000. Oak Thistle LLC bought a new position in shares of Sally Beauty during the third quarter worth $90,000. National Bank of Canada FI boosted its position in shares of Sally Beauty by 700.0% during the third quarter. National Bank of Canada FI now owns 11,200 shares of the specialty retailer’s stock worth $94,000 after purchasing an additional 9,800 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Sally Beauty during the fourth quarter worth $136,000.

Sally Beauty Trading Up 1.2 %

SBH opened at $11.00 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 7.01 and a beta of 1.46. Sally Beauty Holdings, Inc. has a 12 month low of $7.21 and a 12 month high of $14.42. The firm’s fifty day simple moving average is $11.84 and its 200 day simple moving average is $11.27. The company has a current ratio of 2.20, a quick ratio of 0.45 and a debt-to-equity ratio of 1.97.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. Sally Beauty had a net margin of 4.66% and a return on equity of 37.78%. The firm had revenue of $931.30 million for the quarter, compared to analysts’ expectations of $929.49 million. During the same period in the previous year, the firm posted $0.52 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, research analysts anticipate that Sally Beauty Holdings, Inc. will post 1.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SBH shares. TD Cowen reduced their price target on shares of Sally Beauty from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. Piper Sandler cut their price objective on shares of Sally Beauty from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. Finally, DA Davidson boosted their price objective on shares of Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.00.

Sally Beauty Company Profile

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.