Profit Investment Management LLC Increases Holdings in Sally Beauty Holdings, Inc. $SBH

Key Points

• Profit Investment Management LLC has increased its stake in Sally Beauty Holdings, Inc. (NYSE:SBH) by 9.7%, acquiring a total of 234,467 shares valued at approximately $2.17 million.
• Sally Beauty reported $0.51 earnings per share, surpassing the consensus estimate, although its revenue decreased by 1.0% compared to the previous year.
• Multiple analysts have adjusted their rating on Sally Beauty, with Cowen maintaining a "buy" rating and Canaccord Genuity raising the target price from $15.00 to $19.00.

Profit Investment Management LLC raised its stake in Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 9.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 234,467 shares of the specialty retailer's stock after purchasing an additional 20,770 shares during the quarter. Sally Beauty accounts for about 2.0% of Profit Investment Management LLC's portfolio, making the stock its 18th biggest position. Profit Investment Management LLC owned approximately 0.23% of Sally Beauty worth $2,171,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Sally Beauty by 4.4% during the first quarter. Vanguard Group Inc. now owns 12,974,982 shares of the specialty retailer's stock valued at $117,164,000 after acquiring an additional 546,267 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Sally Beauty by 9.3% during the first quarter. Victory Capital Management Inc. now owns 4,013,531 shares of the specialty retailer's stock valued at $36,242,000 after acquiring an additional 342,225 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Sally Beauty by 10.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,868,855 shares of the specialty retailer's stock valued at $25,906,000 after acquiring an additional 263,269 shares during the last quarter. Invenomic Capital Management LP increased its position in shares of Sally Beauty by 160.3% during the first quarter. Invenomic Capital Management LP now owns 1,889,310 shares of the specialty retailer's stock valued at $17,060,000 after acquiring an additional 1,163,619 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its position in shares of Sally Beauty by 9.4% during the first quarter. Jupiter Asset Management Ltd. now owns 1,876,396 shares of the specialty retailer's stock valued at $16,944,000 after acquiring an additional 160,599 shares during the last quarter.

Insider Transactions at Sally Beauty

In related news, Director Diana Sue Ferguson acquired 2,500 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were purchased at an average price of $12.02 per share, for a total transaction of $30,050.00. Following the completion of the acquisition, the director owned 7,912 shares in the company, valued at approximately $95,102.24. This represents a 46.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Max R. Rangel acquired 3,500 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was bought at an average price of $14.07 per share, for a total transaction of $49,245.00. Following the acquisition, the director owned 3,500 shares of the company's stock, valued at approximately $49,245. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 10,500 shares of company stock worth $132,125. Company insiders own 1.56% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Cowen reaffirmed a "buy" rating on shares of Sally Beauty in a research report on Thursday, September 4th. TD Cowen increased their price target on Sally Beauty from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, September 4th. Wall Street Zen downgraded Sally Beauty from a "buy" rating to a "hold" rating in a research report on Sunday. Canaccord Genuity Group raised their target price on Sally Beauty from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, Zacks Research raised Sally Beauty from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.88.

Sally Beauty Trading Up 3.8%

Shares of SBH traded up $0.57 during trading hours on Tuesday, hitting $15.60. The company had a trading volume of 962,793 shares, compared to its average volume of 2,163,736. The firm has a market cap of $1.54 billion, a P/E ratio of 8.38 and a beta of 1.38. The stock's 50 day moving average price is $12.67 and its 200 day moving average price is $10.16. The company has a quick ratio of 0.49, a current ratio of 2.41 and a debt-to-equity ratio of 1.16. Sally Beauty Holdings, Inc. has a 52-week low of $7.54 and a 52-week high of $15.92.

Sally Beauty (NYSE:SBH - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The specialty retailer reported $0.51 EPS for the quarter, topping the consensus estimate of $0.42 by $0.09. The firm had revenue of $933.31 million for the quarter, compared to the consensus estimate of $928.78 million. Sally Beauty had a return on equity of 28.11% and a net margin of 5.26%.The company's quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 earnings per share. Sally Beauty has set its FY 2025 guidance at EPS. On average, research analysts predict that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current 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.