Public Sector Pension Investment Board Reduces Position in Sally Beauty Holdings, Inc. (NYSE:SBH)

Public Sector Pension Investment Board reduced its stake in Sally Beauty Holdings, Inc. (NYSE:SBH) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,797 shares of the specialty retailer’s stock after selling 10,000 shares during the period. Public Sector Pension Investment Board owned 0.21% of Sally Beauty worth $2,956,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new stake in Sally Beauty during the first quarter valued at approximately $64,000. Quest Partners LLC raised its position in Sally Beauty by 16,095.6% during the 2nd quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer’s stock worth $78,000 after buying an additional 7,243 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Sally Beauty in the 3rd quarter valued at about $94,000. Algert Global LLC purchased a new stake in Sally Beauty during the second quarter worth $113,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Sally Beauty during the 2nd quarter worth approximately $117,000.

Sally Beauty Price Performance

SBH stock opened at $13.71 on Wednesday. Sally Beauty Holdings, Inc. has a 1 year low of $9.06 and a 1 year high of $14.79. The firm has a market capitalization of $1.40 billion, a P/E ratio of 9.52 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.20 and a quick ratio of 0.45. The business’s 50-day moving average is $13.14 and its two-hundred day moving average is $12.10.

Sally Beauty (NYSE:SBH) last announced its earnings results on Thursday, November 14th. The specialty retailer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $935.88 million. Sally Beauty had a net margin of 4.13% and a return on equity of 31.37%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share. Analysts anticipate that Sally Beauty Holdings, Inc. will post 1.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. StockNews.com raised shares of Sally Beauty from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. Raymond James upgraded Sally Beauty from an “underperform” rating to a “market perform” rating in a research note on Friday, November 15th. DA Davidson increased their target price on Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, TD Cowen raised shares of Sally Beauty from a “hold” rating to a “buy” rating and raised their price objective for the company from $14.00 to $16.00 in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.50.

Insider Buying and Selling

In related news, insider Scott C. Sherman sold 13,500 shares of Sally Beauty stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.49, for a total value of $195,615.00. Following the sale, the insider now directly owns 42,431 shares in the company, valued at $614,825.19. The trade was a 24.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Kim Mcintosh sold 4,300 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.53, for a total value of $62,479.00. Following the completion of the sale, the chief accounting officer now directly owns 16,685 shares of the company’s stock, valued at approximately $242,433.05. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

About Sally Beauty

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.