BlackRock Fund Advisors has recently announced that it has increased stake in Sally Beauty Holdings Inc. (NYSE:SBH) by 0.42%. After grabbing 15.8 million shares, the institutional investor is now in possession of 66588.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 14.69% having worth around $189.08 million. Moreover, The Vanguard Group, Inc. increased its share by 0.64 million to have a control over 12.66 million shares. And AllianceBernstein LP raised its holdings to 0.14 million shares by acquiring 8.21 million shares or 7.63% of the stake.
Sally Beauty Holdings Inc. (SBH) concluded trading on 09/13/23 at a closing price of $9.42, with 2.87 million shares of worth about $27.01 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -36.86% during that period and on Wednesday the price saw a loss of about -0.95%. Currently the company’s common shares owned by public are about 107.56M shares, out of which, 106.44M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the SBH stock and their offered price forecasts bring an average price target of $12.60. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $15.00 and could fall to a lowest price of $10.00. The stock’s current price level is 25.24% above of average price target set by the analysts, while a rise to estimated low would result in gain of 5.8% for the stock. However, touching the estimated high of $15.00 would mean a gain of 37.2% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 35 times over the past 12 months. They bought 500,691 shares in 21 of the transactions. In 14 selling transactions, insiders dumped 73,832 shares.
Fidelity Low Priced Stock Fund, iShares Core S&P Small Cap ETF, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Sally Beauty Holdings Inc. Fidelity Low Priced Stock Fund is currently holding 8.22 million shares of worth totaling $98.38 million. The company recently came selling 2380.0 shares which brought its stake up to 7.64% of the company’s outstanding shares. iShares Core S&P Small Cap ETF bought 668.0 shares, after which its hold over company’s outstanding shares expand to 7.07%, leaving 7.6 million shares with the mutual fund that have a worth of about $90.96 million. Vanguard Total Stock Market ETF, after selling 3.31 million shares, have now control over 3.07% of the stake in the company. It holds 6068.0 shares of worth $39.57 million.
Sally Beauty Holdings Inc. (NYSE: SBH) started trading at $9.59, above $0.08 from concluding price of the previous day. However, the stock later moved at a day high price of 9.71, or with a loss of -0.95%. Stock saw a price change of -1.05% in past 5 days and over the past one month there was a price change of -14.05%. Year-to-date (YTD), SBH shares are showing a performance of -24.76% which decreased to -36.05% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.08 but also hit the highest price of $18.42 during that period. The average intraday trading volume for Sally Beauty Holdings Inc. shares is 1.63 million. The stock is currently trading -5.26% below its 20-day simple moving average (SMA20), while that difference is down -15.45% for SMA50 and it goes to -27.99% lower than SMA200.
BlackRock Fund Advisors acquired 15.8 million shares of Sally Beauty Holdings Inc. having value of about $189.08 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 66588.0 shares in the company valued at close to $627258.96, or have control over 0.42% stake in the company. Sally Beauty Holdings Inc. (NYSE: SBH) currently have 107.56M outstanding shares and institutions hold larger chunk of about 114.23% of that. Holding of mutual funds in the company is about 56.09% while other institutional holders and individual stake holders have control over 72.64% and 39.25% of the stake respectively.
The stock has a current market capitalization of $1.03B and its 3Y-monthly beta is at 1.35. PE ratio of stock for trailing 12 months is 6.31, while it has posted earnings per share of $1.49 in the same period. Its PEG reads 0.21 and has Quick Ratio of 0.40 while making debt-to-equity ratio of 2.22. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SBH, volatility over the week remained 3.47% while standing at 3.76% over the month.
Analysts are in expectations that Sally Beauty Holdings Inc. (SBH) stock would likely to be making an EPS of $0.46 in the current quarter, while forecast for next quarter EPS is $0.55 and it is $2.09 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.43 which is $0.48 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.5 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -20.80% while it is estimated to increase by 11.19% in next year. EPS is likely to grow at an annualized rate of 29.90% for next 5-years, compared to annual growth of 1.30% made by the stock over the past 5-years.
Analysts at 6 brokerage firms have issued recommendations for the Sally Beauty Holdings Inc. (SBH)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.20. Out of those 6 Wall Street analysts, 1 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on December 15, 2022 offering an Overweight rating for the stock and assigned a target price of $15 to it.