Sally Beauty (SBH) Bonds Rise 2.5% During Trading

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An issue of Sally Beauty Holdings, Inc. (NYSE:SBH) debt rose 2.5% as a percentage of its face value during trading on Thursday. The high-yield issue of debt has a 5.625% coupon and is set to mature on December 1, 2025. The debt is now trading at $96.75. Price changes in a company’s debt in credit markets often anticipate parallel changes in its share price.

SBH has been the subject of several recent research reports. Zacks Investment Research raised shares of Sally Beauty from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 3rd. Bank of America increased their price target on shares of Sally Beauty from $14.00 to $16.00 and gave the stock a “sell” rating in a research report on Thursday, October 4th. Morgan Stanley dropped their price target on shares of Sally Beauty from $13.50 to $13.00 and set an “underweight” rating for the company in a research report on Monday, August 6th. ValuEngine raised shares of Sally Beauty from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Jefferies Financial Group lowered shares of Sally Beauty from a “hold” rating to an “underperform” rating and increased their price target for the stock from $13.50 to $14.00 in a research report on Wednesday, October 24th. Four analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. The company has an average rating of “Hold” and an average price target of $16.36.

Sally Beauty stock traded down $0.84 during trading hours on Friday, hitting $21.75. 5,282,284 shares of the stock were exchanged, compared to its average volume of 2,065,103. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 9.26, a P/E/G ratio of 1.64 and a beta of 0.19. Sally Beauty Holdings, Inc. has a 12 month low of $13.72 and a 12 month high of $23.61.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings data on Thursday, November 8th. The specialty retailer reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The firm had revenue of $966.00 million for the quarter, compared to analysts’ expectations of $965.98 million. Sally Beauty had a net margin of 6.05% and a negative return on equity of 76.04%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, equities analysts expect that Sally Beauty Holdings, Inc. will post 2.12 EPS for the current fiscal year.

In other news, CEO Christian A. Brickman acquired 16,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were purchased at an average cost of $13.90 per share, with a total value of $222,400.00. Following the completion of the purchase, the chief executive officer now owns 278,664 shares of the company’s stock, valued at $3,873,429.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. KBC Group NV grew its stake in Sally Beauty by 331.4% during the second quarter. KBC Group NV now owns 672,775 shares of the specialty retailer’s stock worth $10,785,000 after buying an additional 516,826 shares during the last quarter. Sei Investments Co. grew its stake in shares of Sally Beauty by 432.6% during the second quarter. Sei Investments Co. now owns 201,382 shares of the specialty retailer’s stock valued at $3,228,000 after purchasing an additional 163,571 shares during the last quarter. Auxier Asset Management grew its stake in shares of Sally Beauty by 14.2% during the second quarter. Auxier Asset Management now owns 87,259 shares of the specialty retailer’s stock valued at $1,399,000 after purchasing an additional 10,850 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in shares of Sally Beauty during the second quarter valued at approximately $2,145,000. Finally, Wells Fargo & Company MN grew its stake in shares of Sally Beauty by 36.2% during the second quarter. Wells Fargo & Company MN now owns 761,155 shares of the specialty retailer’s stock valued at $12,202,000 after purchasing an additional 202,471 shares during the last quarter.

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Sally Beauty Company Profile (NYSE:SBH)

Sally Beauty Holdings, Inc, together with its subsidiaries, 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, skin and nail care, beauty sundries, and styling tools for retail customers and salon professionals.

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