Renaissance Technologies LLC Acquires New Position in Sally Beauty Holdings, Inc. (NYSE:SBH)

Renaissance Technologies LLC bought a new position in shares of Sally Beauty Holdings, Inc. (NYSE:SBH) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 645,525 shares of the specialty retailer’s stock, valued at approximately $6,746,000. Renaissance Technologies LLC owned about 0.63% of Sally Beauty as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SBH. Corient Private Wealth LLC raised its stake in Sally Beauty by 5.9% during the fourth quarter. Corient Private Wealth LLC now owns 19,181 shares of the specialty retailer’s stock worth $200,000 after acquiring an additional 1,069 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Sally Beauty by 8.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,395 shares of the specialty retailer’s stock valued at $140,000 after purchasing an additional 1,090 shares during the period. Federated Hermes Inc. grew its holdings in Sally Beauty by 119.1% during the fourth quarter. Federated Hermes Inc. now owns 3,702 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 2,012 shares during the period. DGS Capital Management LLC raised its holdings in shares of Sally Beauty by 6.0% in the 3rd quarter. DGS Capital Management LLC now owns 45,529 shares of the specialty retailer’s stock worth $618,000 after purchasing an additional 2,575 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Sally Beauty by 89.0% in the fourth 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 in the last quarter.

Sally Beauty Stock Performance

NYSE SBH opened at $8.10 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.27 and a quick ratio of 0.44. The company’s fifty day moving average is $8.85 and its two-hundred day moving average is $11.01. Sally Beauty Holdings, Inc. has a 52-week low of $7.54 and a 52-week high of $14.79. The firm has a market capitalization of $826.03 million, a price-to-earnings ratio of 4.85 and a beta of 1.35.

Sally Beauty (NYSE:SBH) last issued its earnings results on Thursday, February 13th. The specialty retailer reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $937.90 million during the quarter, compared to analysts’ expectations of $941.44 million. Sally Beauty had a return on equity of 30.35% and a net margin of 4.73%. Equities research analysts forecast that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley reduced their price objective on shares of Sally Beauty from $12.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. DA Davidson dropped their price target on shares of Sally Beauty from $13.00 to $10.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Finally, Canaccord Genuity Group initiated 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.70.

About Sally Beauty

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.