Quest Partners LLC Purchases 7,243 Shares of Sally Beauty Holdings, Inc. (NYSE:SBH)

Quest Partners LLC increased its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 16,095.6% during the second quarter, HoldingsChannel reports. The firm owned 7,288 shares of the specialty retailer’s stock after buying an additional 7,243 shares during the period. Quest Partners LLC’s holdings in Sally Beauty were worth $78,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBH. Charles Schwab Investment Management Inc. lifted its holdings in Sally Beauty by 6.2% during 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. BNP Paribas Financial Markets grew its holdings in shares of Sally Beauty by 141.4% in the fourth quarter. BNP Paribas Financial Markets now owns 251,153 shares of the specialty retailer’s stock valued at $3,335,000 after purchasing an additional 147,103 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Sally Beauty by 168.6% in the 4th quarter. Quadrant Capital Group LLC now owns 4,507 shares of the specialty retailer’s stock worth $60,000 after buying an additional 2,829 shares during the last quarter. Franklin Resources Inc. increased its stake in Sally Beauty by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 58,959 shares of the specialty retailer’s stock worth $783,000 after acquiring an additional 814 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in Sally Beauty by 328.6% during the fourth quarter. Allianz Asset Management GmbH now owns 241,863 shares of the specialty retailer’s stock valued at $3,212,000 after acquiring an additional 185,433 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on SBH. Piper Sandler decreased their target price on Sally Beauty from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a research report on Monday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of Sally Beauty in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.00.

Sally Beauty Stock Up 2.6 %

SBH stock opened at $13.45 on Wednesday. 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 Holdings, Inc. has a one year low of $7.21 and a one year high of $13.91. The firm’s fifty day moving average is $11.70 and its 200 day moving average is $11.41. The firm has a market cap of $1.38 billion, a PE ratio of 9.15 and a beta of 1.54.

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

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.