Sally Beauty Holdings, Inc. (NYSE:SBH) Shares Purchased by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. increased its stake in Sally Beauty Holdings, Inc. by 9.4% in the 1st quarter, now holding approximately 1.84% of the company worth $16.94 million.
• Analysts have lowered Sally Beauty's stock rating from "buy" to "hold", with a consensus price target of $12.63.
• Sally Beauty reported earnings of $0.42 per share for the most recent quarter, exceeding expectations but showing a 2.8% year-over-year revenue decline.

Jupiter Asset Management Ltd. increased its position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 9.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,876,396 shares of the specialty retailer's stock after purchasing an additional 160,599 shares during the period. Jupiter Asset Management Ltd. owned 1.84% of Sally Beauty worth $16,944,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC boosted its stake in Sally Beauty by 1,177.7% in the fourth quarter. Millennium Management LLC now owns 1,136,121 shares of the specialty retailer's stock valued at $11,872,000 after acquiring an additional 1,047,199 shares in the last quarter. Ranmore Fund Management Ltd acquired a new position in Sally Beauty in the fourth quarter valued at $8,517,000. Invesco Ltd. boosted its stake in Sally Beauty by 102.1% in the fourth quarter. Invesco Ltd. now owns 1,418,465 shares of the specialty retailer's stock valued at $14,823,000 after acquiring an additional 716,613 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Sally Beauty in the fourth quarter valued at $6,746,000. Finally, Lightrock Netherlands B.V. boosted its stake in shares of Sally Beauty by 65.0% during the first quarter. Lightrock Netherlands B.V. now owns 1,479,307 shares of the specialty retailer's stock worth $13,380,000 after buying an additional 583,000 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Sally Beauty from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $12.63.

Sally Beauty Stock Performance

Shares of SBH traded down $0.09 during mid-day trading on Friday, hitting $9.65. 1,836,107 shares of the company's stock were exchanged, compared to its average volume of 1,619,693. Sally Beauty Holdings, Inc. has a fifty-two week low of $7.54 and a fifty-two week high of $14.79. The firm has a market capitalization of $973.59 million, a P/E ratio of 5.42 and a beta of 1.30. The business's 50 day moving average is $9.39 and its two-hundred day moving average is $9.22. The company has a current ratio of 2.32, a quick ratio of 0.44 and a debt-to-equity ratio of 1.29.

Sally Beauty (NYSE:SBH - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The specialty retailer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The firm had revenue of $883.15 million during the quarter, compared to analysts' expectations of $901.00 million. Sally Beauty had a net margin of 5.03% and a return on equity of 29.48%. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. On average, equities analysts expect that Sally Beauty Holdings, Inc. will post 1.81 earnings per share 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.