Invesco Ltd. Purchases 716,613 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

Invesco Ltd. increased its position in Sally Beauty Holdings, Inc. (NYSE:SBH) by 102.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,418,465 shares of the specialty retailer’s stock after buying an additional 716,613 shares during the quarter. Invesco Ltd. owned 1.39% of Sally Beauty worth $14,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in SBH. Ranmore Fund Management Ltd acquired a new position in shares of Sally Beauty during the fourth quarter worth $8,517,000. Federated Hermes Inc. lifted its holdings in Sally Beauty by 119.1% during the 4th quarter. Federated Hermes Inc. now owns 3,702 shares of the specialty retailer’s stock worth $39,000 after buying an additional 2,012 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in Sally Beauty by 428.3% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 91,424 shares of the specialty retailer’s stock worth $955,000 after buying an additional 74,120 shares during the period. Wells Fargo & Company MN grew its position in shares of Sally Beauty by 17.0% in the 4th quarter. Wells Fargo & Company MN now owns 86,371 shares of the specialty retailer’s stock valued at $903,000 after buying an additional 12,571 shares during the last quarter. Finally, ExodusPoint Capital Management LP increased its stake in shares of Sally Beauty by 126.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 374,162 shares of the specialty retailer’s stock valued at $3,910,000 after buying an additional 208,567 shares during the period.

Wall Street Analysts Forecast Growth

SBH has been the topic of several analyst reports. Morgan Stanley reduced their target price on Sally Beauty from $12.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. StockNews.com upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. DA Davidson lowered their target price on shares of Sally Beauty from $13.00 to $10.50 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Finally, Canaccord Genuity Group assumed coverage on shares of Sally Beauty in a research report on Thursday, January 16th. They set a “buy” rating and a $14.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.70.

Sally Beauty Stock Performance

NYSE:SBH opened at $8.10 on Monday. The company has a quick ratio of 0.44, a current ratio of 2.27 and a debt-to-equity ratio of 1.43. Sally Beauty Holdings, Inc. has a twelve month low of $7.54 and a twelve month high of $14.79. The company has a fifty day moving average of $8.85 and a 200-day moving average of $10.98. The firm has a market capitalization of $826.03 million, a P/E ratio of 4.85 and a beta of 1.35.

Sally Beauty (NYSE:SBH) last posted its quarterly earnings results on Thursday, February 13th. The specialty retailer reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $937.90 million during the quarter, compared to the consensus estimate of $941.44 million. Sally Beauty had a net margin of 4.73% and a return on equity of 30.35%. As a group, sell-side analysts anticipate that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current 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.