Sally Beauty Holdings (SBH) is Upgraded by Wells Fargo to Market Perform

Sally Beauty Holdings (SBH) was Upgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Underperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jun 2, 2016.

Many Wall Street Analysts have commented on Sally Beauty Holdings. Sally Beauty Holdings was Initiated by BB&T Capital Mkts to “Hold” on Apr 20, 2016. Sally Beauty Holdings was Downgraded by Piper Jaffray to ” Neutral” on Mar 10, 2016.

On the company’s financial health, Sally Beauty Holdings reported $0.41 EPS for the quarter, based on the information available during the earnings call on May 5, 2016. Analyst had a consensus estimate of $0.41. The company had revenue of $980.06 million for the quarter, compared to analysts expectations of $963.28 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Sally Beauty Holdings opened for trading at $28.78 and hit $29.56 on the upside on Wednesday, eventually ending the session at $29.41, with a gain of 2.40% or 0.69 points. The heightened volatility saw the trading volume jump to 26,17,945 shares. Company has a market cap of $4,303 M.

In a different news, on Apr 6, 2016, Mark J Flaherty (SVP and CFO) sold 34,000 shares at $32.39 per share price. According to the SEC, on Feb 10, 2016, Marshall E Eisenberg (director) sold 19,055 shares at $30.32 per share price. On Feb 10, 2016, Edward W Rabin (director) sold 19,300 shares at $30.46 per share price, according to the Form-4 filing with the securities and exchange commission.

Sally Beauty Holdings Inc. (Sally Beauty) is a retailer and distributor of beauty supplies. The Company operates in North America South America and Europe. Sally Beauty operates through two business segments namely Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty provides its customers with a variety of third-party branded beauty supplies including hair color products hair care products styling appliances brushes nail care products ethnic products and beauty items. Sally Beauty Supply is an open-line distributor of professional beauty supplies in the United States. Sally beauty supply products are sold in shopping centers grocery stores mass merchants and home centers. BSG is a full-service distributor of beauty supplies in North America. BSG and Armstrong McCall stores provide beauty product SKUs that include hair color hair care skin and nail care beauty sundries and electrical appliances. BSG stores are located in secondary strip shopping centers.

Sally Beauty Holdings

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