Regis Corporation (RGS) is Downgraded by Piper Jaffray to Underweight

Regis Corporation (RGS) was Downgraded by Piper Jaffray to ” Underweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on May 19, 2016.

On the company’s financial health, Regis Corporation reported $0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.02. The company had revenue of $442.60 million for the quarter, compared to analysts expectations of $453.45 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.07 EPS.

Regis Corporation opened for trading at $13.28 and hit $13.48 on the upside on Monday, eventually ending the session at $13.41, with a gain of 1.06% or 0.14 points. The heightened volatility saw the trading volume jump to 2,47,074 shares. Company has a market cap of $623 M.

In a different news, on May 2, 2016, Kennith Earl Jr Warfield (SVP Premium and AP) sold 3,465 shares at $13.64 per share price. According to the SEC, on Dec 2, 2015, Jim Brian Lain (EVP & Chief Operating Officer) sold 365 shares at $16.25 per share price. On Sep 3, 2015, David Patrick Williams (director) purchased 10,000 shares at $11.28 per share price, according to the Form-4 filing with the securities and exchange commission.

Regis Corporation owns franchises and operates beauty salons. The Company operates in three segments: North American Value North American Premium and International. As of June 30 2015 the Company owned franchised or held ownership interests in 9556 locations around the world. The Company’s locations consist of around 9300 company-owned and franchised salons and around 200 locations in which it maintains a non-controlling ownership interest. The Company’s salon concepts offer similar salon products and services and serve the mass marketplace. The major services supplied by the Company’s salons are haircutting and styling (including shampooing and conditioning) hair coloring and other services. The Company’s salons operate primarily under the trade names of SmartStyle Supercuts MasterCuts Regis Salons and Cost Cutters. The various brands within the Company’s retail assortment include Biolage Paul Mitchell Regis Sexy Hair Concepts Kenra and Moroccanoil.

Regis Corporation

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