Quest Partners LLC Has $78,000 Stake in Sally Beauty Holdings, Inc. (NYSE:SBH)

Quest Partners LLC raised its holdings in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) by 16,095.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,288 shares of the specialty retailer’s stock after acquiring an additional 7,243 shares during the quarter. Quest Partners LLC’s holdings in Sally Beauty were worth $78,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its position in Sally Beauty by 168.6% during the fourth quarter. Quadrant Capital Group LLC now owns 4,507 shares of the specialty retailer’s stock worth $60,000 after acquiring an additional 2,829 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Sally Beauty in the first quarter valued at approximately $64,000. TD Asset Management Inc raised its holdings in shares of Sally Beauty by 16.4% during the 2nd quarter. TD Asset Management Inc now owns 17,000 shares of the specialty retailer’s stock worth $182,000 after buying an additional 2,400 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in Sally Beauty by 29.9% during the first quarter. Public Employees Retirement Association of Colorado now owns 17,897 shares of the specialty retailer’s stock worth $222,000 after acquiring an additional 4,117 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Sally Beauty by 18.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,686 shares of the specialty retailer’s stock valued at $222,000 after purchasing an additional 3,158 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SBH. Piper Sandler reduced their price objective on Sally Beauty from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. DA Davidson reissued a “neutral” rating and issued a $12.00 price objective on shares of Sally Beauty in a research note on Tuesday, August 13th. Finally, StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Sally Beauty currently has an average rating of “Hold” and an average price target of $11.00.

Sally Beauty Stock Performance

Shares of NYSE SBH opened at $13.45 on Wednesday. The company has a current ratio of 2.12, a quick ratio of 0.40 and a debt-to-equity ratio of 1.69. Sally Beauty Holdings, Inc. has a 1-year low of $7.21 and a 1-year high of $13.91. The stock’s 50-day moving average is $11.70 and its 200 day moving average is $11.41. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 9.15 and a beta of 1.54.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings data on Thursday, August 8th. The specialty retailer reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm 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 business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 earnings per share. On average, sell-side analysts anticipate that Sally Beauty Holdings, Inc. will post 1.66 EPS for the current fiscal 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.