Connor Clark & Lunn Investment Management Ltd. Invests $731,000 in Sally Beauty Holdings, Inc. (NYSE:SBH)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 69,974 shares of the specialty retailer’s stock, valued at approximately $731,000.

Other hedge funds have also made changes to their positions in the company. Lightrock Netherlands B.V. acquired a new position in Sally Beauty in the fourth quarter worth $9,413,000. FMR LLC boosted its holdings in Sally Beauty by 2.6% in the third quarter. FMR LLC now owns 15,396,347 shares of the specialty retailer’s stock worth $208,928,000 after purchasing an additional 387,736 shares during the period. JPMorgan Chase & Co. boosted its holdings in Sally Beauty by 306.7% in the third quarter. JPMorgan Chase & Co. now owns 341,465 shares of the specialty retailer’s stock worth $4,634,000 after purchasing an additional 257,510 shares during the period. Amundi boosted its holdings in Sally Beauty by 1,215.4% in the fourth quarter. Amundi now owns 237,700 shares of the specialty retailer’s stock worth $2,555,000 after purchasing an additional 219,630 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Sally Beauty by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 3,671,306 shares of the specialty retailer’s stock worth $38,365,000 after purchasing an additional 156,580 shares during the period.

Sally Beauty Stock Performance

SBH stock opened at $8.61 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.44 and a current ratio of 2.27. The stock has a market capitalization of $877.42 million, a price-to-earnings ratio of 5.15 and a beta of 1.54. Sally Beauty Holdings, Inc. has a 1 year low of $8.25 and a 1 year high of $14.79. The stock’s fifty day moving average is $9.86 and its two-hundred day moving average is $11.67.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings data on Thursday, February 13th. The specialty retailer reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. Sally Beauty had a net margin of 4.73% and a return on equity of 30.35%. The business had revenue of $937.90 million for the quarter, compared to analysts’ expectations of $941.44 million. On average, research analysts predict that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. TD Cowen raised shares of Sally Beauty from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $16.00 in a report on Monday, November 25th. DA Davidson decreased their price objective on shares of Sally Beauty from $13.00 to $10.50 and set a “neutral” rating for the company in a report on Tuesday, February 18th. StockNews.com raised shares of Sally Beauty from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley cut their target price on Sally Beauty from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. Finally, Canaccord Genuity Group started coverage on Sally Beauty in a research note on Thursday, January 16th. They issued a “buy” rating and a $14.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.70.

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.