Raymond James & Associates Sells 31,296 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

Raymond James & Associates lessened its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,493 shares of the specialty retailer’s stock after selling 31,296 shares during the period. Raymond James & Associates owned approximately 0.31% of Sally Beauty worth $3,482,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Diversified Trust Co lifted its holdings in shares of Sally Beauty by 2.7% during the 2nd quarter. Diversified Trust Co now owns 33,948 shares of the specialty retailer’s stock valued at $364,000 after purchasing an additional 898 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Sally Beauty during the 2nd quarter valued at about $289,000. Profit Investment Management LLC lifted its holdings in shares of Sally Beauty by 78.3% during the 2nd quarter. Profit Investment Management LLC now owns 249,365 shares of the specialty retailer’s stock valued at $2,676,000 after purchasing an additional 109,484 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Sally Beauty during the 1st quarter valued at about $64,000. Finally, Boston Partners bought a new position in shares of Sally Beauty during the 1st quarter valued at about $617,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on SBH. DA Davidson reiterated a “neutral” rating and set a $12.00 price objective on shares of Sally Beauty in a report on Tuesday, August 13th. Piper Sandler dropped their target price on Sally Beauty from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, StockNews.com lowered Sally Beauty from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Sally Beauty has an average rating of “Hold” and an average price target of $11.00.

Sally Beauty Stock Up 0.5 %

Shares of Sally Beauty stock opened at $13.05 on Friday. The business’s 50 day simple moving average is $11.34 and its 200 day simple moving average is $11.48. Sally Beauty Holdings, Inc. has a 52-week low of $7.21 and a 52-week high of $13.91. The firm has a market cap of $1.35 billion, a PE ratio of 8.88 and a beta of 1.54. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.40 and a current ratio of 2.12.

Sally Beauty (NYSE:SBH) last posted its quarterly earnings results on Thursday, August 8th. The specialty retailer reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.05. The firm had revenue of $942.30 million for the quarter, compared to analyst estimates of $931.77 million. Sally Beauty had a return on equity of 31.88% and a net margin of 3.99%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 EPS. On average, analysts predict that Sally Beauty Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

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.