Ranmore Fund Management Ltd Takes $8.52 Million Position in Sally Beauty Holdings, Inc. (NYSE:SBH)

Ranmore Fund Management Ltd bought a new position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 815,000 shares of the specialty retailer’s stock, valued at approximately $8,517,000. Sally Beauty makes up 7.9% of Ranmore Fund Management Ltd’s holdings, making the stock its 6th biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBH. Federated Hermes Inc. grew its holdings in shares of Sally Beauty by 119.1% during the 4th quarter. Federated Hermes Inc. now owns 3,702 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 2,012 shares in the last quarter. Quarry LP lifted its position in Sally Beauty by 369.3% in the third quarter. Quarry LP now owns 2,980 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 2,345 shares during the period. R Squared Ltd acquired a new stake in Sally Beauty during the fourth quarter worth $56,000. KBC Group NV increased its holdings in Sally Beauty by 89.0% in the 4th quarter. KBC Group NV now owns 5,871 shares of the specialty retailer’s stock valued at $61,000 after buying an additional 2,764 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of Sally Beauty in the 3rd quarter valued at $64,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Sally Beauty from $12.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Canaccord Genuity Group assumed coverage on Sally Beauty in a research note on Thursday, January 16th. They issued a “buy” rating and a $14.00 price objective on the stock. DA Davidson cut their target price on Sally Beauty from $13.00 to $10.50 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.70.

Sally Beauty Trading Up 3.1 %

SBH opened at $8.58 on Monday. Sally Beauty Holdings, Inc. has a twelve month low of $8.00 and a twelve month high of $14.79. The firm has a market cap of $874.26 million, a PE ratio of 5.13 and a beta of 1.35. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.44 and a current ratio of 2.27. The firm’s fifty day moving average is $9.40 and its two-hundred day moving average is $11.40.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings data on Thursday, February 13th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $937.90 million during the quarter, compared to analyst estimates of $941.44 million. Sally Beauty had a return on equity of 30.35% and a net margin of 4.73%. Equities research analysts anticipate 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.