Foundry Partners LLC Takes $535,000 Position in Sally Beauty Holdings, Inc. (NYSE:SBH)

Foundry Partners LLC acquired a new position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 49,883 shares of the specialty retailer’s stock, valued at approximately $535,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SBH. Wasatch Advisors LP bought a new stake in shares of Sally Beauty during the fourth quarter worth about $42,433,000. Schroder Investment Management Group increased its position in Sally Beauty by 53.6% in the 4th quarter. Schroder Investment Management Group now owns 5,532,978 shares of the specialty retailer’s stock valued at $73,478,000 after acquiring an additional 1,931,188 shares during the period. Invenomic Capital Management LP bought a new position in shares of Sally Beauty during the fourth quarter valued at $8,258,000. Teacher Retirement System of Texas acquired a new position in shares of Sally Beauty during the fourth quarter worth $8,172,000. Finally, Lazard Asset Management LLC grew its stake in shares of Sally Beauty by 303.7% in the first quarter. Lazard Asset Management LLC now owns 429,938 shares of the specialty retailer’s stock worth $5,339,000 after purchasing an additional 323,438 shares during the last quarter.

Sally Beauty Stock Performance

SBH stock opened at $11.94 on Friday. Sally Beauty Holdings, Inc. has a 1-year low of $7.21 and a 1-year high of $13.91. The company has a current ratio of 2.12, a quick ratio of 0.40 and a debt-to-equity ratio of 1.69. The stock has a 50-day moving average price of $11.53 and a 200-day moving average price of $11.44. The firm has a market cap of $1.23 billion, a PE ratio of 8.12 and a beta of 1.54.

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

Analysts Set New Price Targets

SBH has been the subject of several analyst reports. StockNews.com lowered Sally Beauty from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. Piper Sandler cut their price objective on 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 set a $12.00 target price on shares of Sally Beauty in a research report on Tuesday, August 13th. 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 company’s stock. According to MarketBeat.com, Sally Beauty has an average rating of “Hold” and a consensus target price of $11.00.

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.