Sally Beauty Sees Unusually Large Options Volume (NYSE:SBH)

Sally Beauty Holdings, Inc. (NYSE:SBH) was the recipient of some unusual options trading on Thursday. Stock investors bought 2,542 call options on the company. This represents an increase of approximately 689% compared to the typical daily volume of 322 call options.

Several research firms have commented on SBH. Zacks Investment Research upgraded Sally Beauty from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research report on Tuesday, November 16th. Oppenheimer decreased their target price on Sally Beauty from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, November 4th. Finally, Morgan Stanley increased their target price on Sally Beauty from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Monday, November 15th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sally Beauty has an average rating of “Buy” and a consensus price target of $24.20.

In other Sally Beauty news, Director Susan R. Mulder sold 2,901 shares of the company’s stock in a transaction that occurred on Thursday, December 9th. The stock was sold at an average price of $21.00, for a total value of $60,921.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan R. Mulder sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 18th. The stock was sold at an average price of $21.01, for a total value of $105,050.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,401 shares of company stock worth $319,171. 1.74% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SBH. Millennium Management LLC raised its stake in Sally Beauty by 302.9% in the 3rd quarter. Millennium Management LLC now owns 763,107 shares of the specialty retailer’s stock valued at $12,858,000 after purchasing an additional 573,719 shares during the last quarter. Foundry Partners LLC acquired a new stake in shares of Sally Beauty in the 3rd quarter worth $9,662,000. Principal Financial Group Inc. increased its stake in shares of Sally Beauty by 19.7% in the 2nd quarter. Principal Financial Group Inc. now owns 2,855,842 shares of the specialty retailer’s stock worth $63,028,000 after acquiring an additional 470,115 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Sally Beauty by 33.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,773,613 shares of the specialty retailer’s stock worth $29,885,000 after acquiring an additional 443,239 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its stake in shares of Sally Beauty by 2.9% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 15,406,794 shares of the specialty retailer’s stock worth $259,604,000 after acquiring an additional 432,093 shares during the last quarter.

Shares of NYSE:SBH opened at $18.13 on Friday. Sally Beauty has a 1 year low of $13.20 and a 1 year high of $25.66. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 8.67 and a beta of 1.46. The company has a debt-to-equity ratio of 4.92, a current ratio of 2.08 and a quick ratio of 0.77. The business’s 50 day moving average price is $19.39 and its 200-day moving average price is $18.70.

Sally Beauty (NYSE:SBH) last posted its quarterly earnings data on Thursday, November 11th. The specialty retailer reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.12. Sally Beauty had a return on equity of 148.76% and a net margin of 6.19%. The firm had revenue of $990.26 million during the quarter, compared to the consensus estimate of $971.72 million. During the same period in the prior year, the company earned $0.63 EPS. On average, sell-side analysts expect that Sally Beauty will post 2.59 earnings per share for the current year.

Sally Beauty Company Profile

Sally Beauty Holdings, Inc is an international retailer and distributor of professional beauty supplies. It operates through the Sally Beauty Supply (SBS) and Beauty Systems Group (BSG) segments. The SBS segment offers domestic and international chain of retail stores and a consumer-facing e-commerce website that offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America.

Further Reading: Environmental, Social, and Governance (ESG) Investing

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