Meeder Asset Management Inc. Buys Shares of 10,909 Sally Beauty Holdings, Inc. (NYSE:SBH)

Meeder Asset Management Inc. purchased a new stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,909 shares of the specialty retailer’s stock, valued at approximately $117,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SBH. Quadrant Capital Group LLC increased its holdings in Sally Beauty by 168.6% in the 4th quarter. Quadrant Capital Group LLC now owns 4,507 shares of the specialty retailer’s stock valued at $60,000 after purchasing an additional 2,829 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Sally Beauty during the first quarter worth $64,000. Quest Partners LLC grew its stake in shares of Sally Beauty by 16,095.6% in the second quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer’s stock valued at $78,000 after buying an additional 7,243 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Sally Beauty by 16.4% in the second quarter. TD Asset Management Inc now owns 17,000 shares of the specialty retailer’s stock valued at $182,000 after buying an additional 2,400 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of Sally Beauty by 29.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 17,897 shares of the specialty retailer’s stock valued at $222,000 after buying an additional 4,117 shares during the period.

Wall Street Analyst Weigh In

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

Sally Beauty Stock Up 3.5 %

SBH stock opened at $12.94 on Friday. The company’s 50 day moving average price is $11.66 and its 200 day moving average price is $11.41. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 8.80 and a beta of 1.54. Sally Beauty Holdings, Inc. has a fifty-two week low of $7.21 and a fifty-two week high of $13.91. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.40 and a current ratio of 2.12.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings data on Thursday, August 8th. The specialty retailer reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $942.30 million for the quarter, compared to the consensus estimate of $931.77 million. Sally Beauty had a net margin of 3.99% and a return on equity of 31.88%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. On average, equities research analysts anticipate that Sally Beauty Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Sally Beauty Company 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.