Sally Beauty (SBH) Increases Buyback but Analyst Unmoved, Maintains Neutral

Yesterday Sally Beauty's (NYSE: SBH) Board of Directors reloaded the company's share repurchase program, which now totals $700 million. Despite the news, analysts at Goldman Sachs remain on the sidelines.

"We remain Neutral rated, as we think the likelihood for increased buybacks was widely anticipated and reflected in SBH's premium valuation. Notwithstanding this event, we continue to see EPS risk to 2Q estimates and believe management's guidance for 2H sales reacceleration is a best-case scenario at this time," said analyst Taposh Bari.

Goldman Sachs modified its price target on Sally Beauty Holdings, raising it to $25.00 (from $24.00).

For an analyst ratings summary and ratings history on Sally Beauty Holdings (NYSE: SBH) click here. For more ratings news on Sally Beauty Holdings click here.

Shares of Sally Beauty Holdings closed at $28.48 yesterday.

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