Jupiter Asset Management Ltd. Cuts Stake in Sally Beauty Holdings, Inc. (NYSE:SBH)

Jupiter Asset Management Ltd. reduced its position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 5.1% in the second quarter, Holdings Channel reports. The firm owned 2,213,532 shares of the specialty retailer’s stock after selling 120,000 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Sally Beauty were worth $23,751,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Sally Beauty by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,242,861 shares of the specialty retailer’s stock worth $29,785,000 after purchasing an additional 131,603 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Sally Beauty by 141.4% during the 4th quarter. BNP Paribas Financial Markets now owns 251,153 shares of the specialty retailer’s stock valued at $3,335,000 after acquiring an additional 147,103 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Sally Beauty by 168.6% in the fourth quarter. Quadrant Capital Group LLC now owns 4,507 shares of the specialty retailer’s stock worth $60,000 after acquiring an additional 2,829 shares during the period. Franklin Resources Inc. raised its holdings in shares of Sally Beauty by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 58,959 shares of the specialty retailer’s stock valued at $783,000 after purchasing an additional 814 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Sally Beauty by 328.6% during the fourth quarter. Allianz Asset Management GmbH now owns 241,863 shares of the specialty retailer’s stock valued at $3,212,000 after purchasing an additional 185,433 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SBH. Piper Sandler decreased their target price on shares of Sally Beauty from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. DA Davidson reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of Sally Beauty in a report on Tuesday, August 13th. Finally, StockNews.com downgraded Sally Beauty from a “buy” rating to a “hold” rating in a research note on Saturday, August 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.00.

Sally Beauty Trading Up 1.9 %

NYSE:SBH opened at $12.50 on Friday. Sally Beauty Holdings, Inc. has a one year low of $7.21 and a one year high of $13.91. The business has a fifty day moving average price of $11.61 and a 200-day moving average price of $11.42. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 8.50 and a beta of 1.54. The company has a debt-to-equity ratio of 1.69, a current ratio of 2.12 and a quick ratio of 0.40.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings results on Thursday, August 8th. The specialty retailer reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. Sally Beauty had a return on equity of 31.88% and a net margin of 3.99%. The business had revenue of $942.30 million during the quarter, compared to analysts’ expectations of $931.77 million. During the same quarter in the prior year, the business posted $0.49 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Sell-side analysts forecast that Sally Beauty Holdings, Inc. will post 1.66 EPS for the current year.

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.