Lazard Asset Management LLC Buys 323,438 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

Lazard Asset Management LLC boosted its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 303.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 429,938 shares of the specialty retailer’s stock after buying an additional 323,438 shares during the period. Lazard Asset Management LLC owned approximately 0.42% of Sally Beauty worth $5,339,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SBH. Vanguard Group Inc. grew its stake in shares of Sally Beauty by 6.0% in the third quarter. Vanguard Group Inc. now owns 13,732,079 shares of the specialty retailer’s stock valued at $115,075,000 after buying an additional 780,329 shares in the last quarter. Raymond James & Associates acquired a new stake in shares of Sally Beauty during the fourth quarter worth $3,744,000. Wasatch Advisors LP raised its stake in Sally Beauty by 16.8% in the first quarter. Wasatch Advisors LP now owns 3,731,016 shares of the specialty retailer’s stock valued at $46,339,000 after purchasing an additional 535,753 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in 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 valued at $29,785,000 after purchasing an additional 131,603 shares in the last quarter. Finally, Profit Investment Management LLC acquired a new position in Sally Beauty in the first quarter valued at about $1,737,000.

Sally Beauty Price Performance

Shares of SBH opened at $11.36 on Monday. Sally Beauty Holdings, Inc. has a 52-week low of $7.21 and a 52-week high of $13.91. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.37 and a current ratio of 1.99. The business’s 50 day moving average price is $11.06 and its two-hundred day moving average price is $11.60. The firm has a market cap of $1.18 billion, a PE ratio of 7.71 and a beta of 1.55.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings results on Thursday, May 9th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.04). Sally Beauty had a net margin of 4.36% and a return on equity of 34.23%. The business had revenue of $908.36 million during the quarter, compared to analyst estimates of $910.72 million. During the same period last year, the firm posted $0.41 earnings per share. Sally Beauty’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Sally Beauty Holdings, Inc. will post 1.69 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on SBH shares. TD Cowen decreased their target price on Sally Beauty from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. Piper Sandler reduced their price target on Sally Beauty from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.25.

Sally Beauty Profile

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.