DA Davidson upgraded shares of Sally Beauty Holdings, Inc. (NYSE:SBH) from a neutral rating to a buy rating in a report released on Monday, Marketbeat Ratings reports. They currently have $21.00 price target on the specialty retailer’s stock.

SBH has been the topic of several other research reports. Cowen and Company reaffirmed a buy rating and set a $24.00 price target on shares of Sally Beauty Holdings in a research report on Thursday, September 28th. KeyCorp reaffirmed a hold rating on shares of Sally Beauty Holdings in a research report on Wednesday, September 6th. BidaskClub raised shares of Sally Beauty Holdings from a sell rating to a hold rating in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Sally Beauty Holdings in a research report on Wednesday, September 13th. Finally, Zacks Investment Research raised shares of Sally Beauty Holdings from a sell rating to a hold rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. Sally Beauty Holdings currently has an average rating of Hold and a consensus price target of $23.67.

Shares of Sally Beauty Holdings (SBH) opened at 17.75 on Monday. The company has a market capitalization of $2.35 billion, a PE ratio of 10.84 and a beta of 0.70. The firm’s 50-day moving average price is $19.35 and its 200 day moving average price is $19.40. Sally Beauty Holdings has a 52 week low of $17.10 and a 52 week high of $30.17.

Sally Beauty Holdings (NYSE:SBH) last released its earnings results on Thursday, August 3rd. The specialty retailer reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the company posted $0.47 EPS. The business’s revenue was up .0% on a year-over-year basis. Equities analysts predict that Sally Beauty Holdings will post $1.82 EPS for the current year.

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Sally Beauty Holdings announced that its board has authorized a stock buyback plan on Thursday, August 31st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 40.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

In related news, CEO Christian A. Brickman bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average price of $17.54 per share, for a total transaction of $350,800.00. Following the acquisition, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christian A. Brickman bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was bought at an average price of $17.90 per share, with a total value of $179,000.00. Following the acquisition, the chief executive officer now directly owns 172,543 shares in the company, valued at approximately $3,088,519.70. The disclosure for this purchase can be found here. Insiders purchased a total of 34,250 shares of company stock valued at $606,555 in the last quarter. 0.97% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. US Bancorp DE increased its holdings in Sally Beauty Holdings by 227.6% in the 2nd quarter. US Bancorp DE now owns 5,100 shares of the specialty retailer’s stock valued at $103,000 after purchasing an additional 3,543 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sally Beauty Holdings by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,427 shares of the specialty retailer’s stock worth $110,000 after acquiring an additional 559 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Sally Beauty Holdings by 37.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,763 shares of the specialty retailer’s stock worth $158,000 after acquiring an additional 2,125 shares in the last quarter. Flinton Capital Management LLC grew its stake in shares of Sally Beauty Holdings by 86.8% in the second quarter. Flinton Capital Management LLC now owns 7,952 shares of the specialty retailer’s stock worth $161,000 after acquiring an additional 3,696 shares in the last quarter. Finally, M&T Bank Corp grew its stake in shares of Sally Beauty Holdings by 0.6% in the second quarter. M&T Bank Corp now owns 10,373 shares of the specialty retailer’s stock worth $210,000 after acquiring an additional 65 shares in the last quarter.

About Sally Beauty Holdings

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.

Analyst Recommendations for Sally Beauty Holdings (NYSE:SBH)

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