Sally Beauty (NYSE:SBH) Trading Up 8.8% Following Earnings Beat

Sally Beauty Holdings, Inc. (NYSE:SBHGet Free Report) rose 8.8% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $13.40 and last traded at $13.40. Approximately 209,658 shares changed hands during trading, a decline of 85% from the average daily volume of 1,398,286 shares. The stock had previously closed at $12.32.

The specialty retailer reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Sally Beauty had a net margin of 4.66% and a return on equity of 37.78%. The company had revenue of $931.30 million for the quarter, compared to the consensus estimate of $929.49 million. During the same period in the previous year, the firm earned $0.52 earnings per share. Sally Beauty’s quarterly revenue was down 2.7% compared to the same quarter last year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Piper Sandler decreased their price objective on shares of Sally Beauty from $15.00 to $11.00 in a report on Tuesday, October 10th. Morgan Stanley decreased their price objective on shares of Sally Beauty from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, November 15th. Finally, StockNews.com lowered shares of Sally Beauty from a “buy” rating to a “hold” rating in a report on Tuesday, November 21st.

View Our Latest Analysis on Sally Beauty

Insider Buying and Selling

In other Sally Beauty news, CEO Denise Paulonis purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was purchased at an average price of $11.29 per share, for a total transaction of $45,160.00. Following the purchase, the chief executive officer now directly owns 170,826 shares in the company, valued at $1,928,625.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.36% of the stock is owned by insiders.

Institutional Trading of Sally Beauty

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Sally Beauty by 0.7% during the 2nd quarter. BlackRock Inc. now owns 16,913,070 shares of the specialty retailer’s stock worth $208,876,000 after purchasing an additional 113,658 shares during the period. FMR LLC lifted its stake in shares of Sally Beauty by 3.2% in the 3rd quarter. FMR LLC now owns 16,165,414 shares of the specialty retailer’s stock worth $135,466,000 after acquiring an additional 493,923 shares during the period. Vanguard Group Inc. lifted its stake in shares of Sally Beauty by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 13,732,079 shares of the specialty retailer’s stock worth $115,075,000 after acquiring an additional 780,329 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Sally Beauty by 7.5% in the 4th quarter. Alliancebernstein L.P. now owns 8,610,218 shares of the specialty retailer’s stock worth $107,800,000 after acquiring an additional 597,088 shares during the period. Finally, State Street Corp lifted its stake in shares of Sally Beauty by 3.6% in the 2nd quarter. State Street Corp now owns 4,529,832 shares of the specialty retailer’s stock worth $55,943,000 after acquiring an additional 159,040 shares during the period.

Sally Beauty Price Performance

The company has a market cap of $1.35 billion, a price-to-earnings ratio of 8.08 and a beta of 1.48. The company has a current ratio of 2.20, a quick ratio of 0.44 and a debt-to-equity ratio of 1.97. The company’s 50 day moving average price is $12.09 and its 200 day moving average price is $10.42.

About Sally Beauty

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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.

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