05-12-2018: Sally Beauty Holdings, Inc. (SBH): Analysts & Researchers Pile On Negativity

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Recommendation

Sally Beauty Holdings, Inc.

Sally Beauty Holdings, Inc. (SBH) is the world's largest international specialty retailer and distributor of professional beauty supplies with revenues of more than $3.8 billion annually. It is based in Texas.

This company has been aggressively expanding, buying up smaller chains, but has a negative net asset value, a lot of intangibles on its books, and somewhat high debt load.

Both researchers and analysts have been turning off to the stock and downgrading it. Institutions are net sellers. The stock chart pattern looks awful during a time when the general market is soaring. The specialty retail industry group is one of the poorest performers of late.

The Zenith Index for this company is acceptable but not strong. Extensive attempts to expand internationally have introduced currency exchange problems into the earnings reports.

The corporation has a good website in our opinion, but is not trying to market things over the Internet. Rather it has a very large number of retail outlets all over the U.S. and internationally.

The company stock has been in a downtrend since about October, 2017. This "pullback" has been due to disappointing earnings reports, competition from places like Wal-Mart, and the like. If one looks at a rather consistent, steady earnings pattern over the last five years, the "pullback" offers a buying opportunity, because the average P/E is much higher than the current one, a situation very unusual with American stocks these days. Also there appears to be insider buying, another rarity in American stocks in this particular stock late-bull stock market.

This company definitely has been helped by recent tax cuts. It might be a contrarian buy play and it has a somewhat "low risk" giant international footprint. It has instituted cost reduction measures recently.

Same store sales slumped in the latest quarter, but only by 1.4%. Traffic trends in stores continues to be a problem according to the CEO.

When selling has begun to run its course, as many are afraid to buy a stock with a chart pattern like this one has, and momentum builds, we think revaluation of the stock relative to earnings will push it higher, but the question is, "When?" We like the way the company presents itself despite claims by reviewers such as GMI, that the stock has accounting and governance risk higher than 68% of other companies. It does have concern for shareholders.

Despite the "sell rating" in our Decision Matrix, the pullback has been so severe with so many analysts and researchers jumping on the downtrade bandwagon, this could make a good trading stock with potential to trade over a new range of say, $14 to $17/share, which traders who draw support and resistance lines on charts might agree. 



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Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

Sally Beauty Holdings, Inc. (SBH)                         Exchange: NYSE
3001 Colorado Boulevard
Denton, TX 76210                 Sector: Consumer Cyclical
United States                    Industry:Specialty Retail

Sally Beauty Holdings, Inc., together with its subsidiaries, 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, skin and nail care, beauty
sundries, and styling tools for retail customers and salon
professionals. This segment also provides products under third-party
brands, such as OPI, China Glaze, Wella, Clairol, Conair, and Hot Shot
Tools, as well as exclusive-label merchandise. As of September 30, 2017,
it operated 3,763 company-operated retail stores with 2,883 stores in
the United States, including Puerto Rico; and 880 company-operated
stores located in Canada, Mexico, the United Kingdom, Ireland, Belgium,
France, Germany, the Netherlands, Spain, Chile, and Peru under the Sally
Beauty banner, as well as 19 franchised stores in the United Kingdom,
Belgium, and certain other European countries. The Beauty Systems Group
segment offers professional beauty products, including hair color and
care, skin and nail care, beauty sundries, and styling tools directly to
salons and salon professionals through its sales force, as well as
through company-operated and franchised stores. This segment also sells
products under third-party brands, such as Paul Mitchell, Wella,
Schwarzkopf, Kenra, Goldwell, Joico, and Aquage. This segment had 1,200
company-operated stores with 1,099 located in the United States,
including Puerto Rico; and 101 retail stores located in Canada under the
CosmoProf banner in the United States and Canada, as well as 168
franchised stores under the Armstrong McCall name in the United States,
Canada, and Mexico. The company also distributes its products through
full-service/exclusive distribution, open-line distribution, and direct
and mega-salon stores. Sally Beauty Holdings, Inc. was founded in 1964
and is headquartered in Denton, Texas.

Last Trade:  14.97                           52-Week Range:  21.36 -  14.05
Employees: 14,035                            Avg.Volume:   1,782,780 Shares

Corporate Governance:
Pillar scores are Audit: 1; Board: 1; Shareholder Rights: 2; Compensation: 4.
         (A lower number means less governance risk.)

EPS:  1.81    Dividend Amount: $ 0.00          Yield:  0.00%
             Ex-Dividend Date: N/A             Payout Ratio:   0.00

Key Statistics:

    Trailing P/E:   8.35              Forward P/E (est.):   6.35
                                           Target Price:  15.85

Qrtly Stock Price Growth (yoy): -26.62%               Beta:  -0.06
Qrtly S&P Index   Growth (yoy):  -0.50%        Short Ratio:   8.23%
    Qrtly Revenue Growth (yoy):  11.47%         Shares Out:  123000000
   Qrtly Earnings Growth (yoy):   0.00%

          Book Value:  -2.72                    Debt/Equity:   0.00%
    Price/Book Value:   0.00        Operating Profit Margin:  12.69%
         Price/Sales:   0.47                  Profit Margin:   6.17%
         Market Cap:   1,858,000,000       Return on Equity:   0.00%
    Enterprise Value:   3,840,000,000      Return on Assets:  14.77%

    Operating Cash Flow:    358,790,000
         Free Cash Flow:    270,750,000



Annual Income Statement:                          (All numbers in thousands)
  Period Ending                             09/30/201    9/30/2016   9/30/2015

  Total Revenue                              3,938,317   3,952,618   3,834,343
  Cost of Revenue                            1,973,422   1,988,678   1,936,492
  Gross Profit                               1,964,895   1,963,940   1,897,851

Operating Expenses:
  Research & Development                             0           0           0
  Selling, General & Administrative          1,351,296   1,365,986   1,313,134
  Non-Recurring Expenses                        22,679      22,679      22,679
  Other Operating Expenses                     112,323      99,657      89,391
  Total Operating Expenses                           0           0           0

Operating Income or Loss                       478,597     498,297     495,326

Income from Continuing Operations:
  Total Other Income/Expenses Net                    0           0           0
  Earnings Before Interest & Taxes             478,597     498,297     495,326
  Interest Expense                             132,899     144,237     116,842
  Income Before Taxes                          345,698     354,060     378,484
  Income Tax Expense                           130,622     131,118     143,397
  Minority Interest                                  0           0           0

Net Income from Continuing Op.s                215,076     222,942     235,087

Non-recurring Events:
  Discontinued Operations                            0           0           0
  Extraordinary Items                                0           0           0
  Effect of Accounting Changes                       0           0           0
  Other Items                                        0           0           0
  Net Income                                   215,076     222,942     235,087
  Preferred Stock & Other Adjustments                0           0           0

Net Income Avail to Common Shares              215,076     222,942     235,087



Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         09/30/201      9/30/2016     9/30/2015

  Net Income                               215,076       222,942       235,087

Operating Activities:
  Depreciation                             115,587       102,912        93,180
  Adjustments to Net Income                 62,988        66,484         4,385
  Changes in Accounts Recv'bls              -6,818         5,633         4,029
  Changes in Liabilities                   -20,892         3,589        42,655
  Changes in Investories                   -16,343       -31,397       -80,321
  Changes in other Oper'g Acts              -5,220       -19,158         1,772

Total Cash Flow f Operations               344,378       351,005       300,787

Investing Activities:
  Capital Exenditures                      -89,666      -151,220      -106,532
  Investments                                    0             0             0
  Other Cash Flows fr Investing                 41       -23,610        -6,286

Total Cash Flows from Investing            -89,625      -174,830      -112,818

Financing Activities:
  Dividends Paid                                 0             0             0
  Sale of Purchase of Stock               -328,712      -191,092      -173,208
  Net Borrowings                            60,607       -26,537          -831
  Other Cash Flows fr Financing                  0             0        -6,286

Total Cash Flows from Financing           -278,395      -229,030      -151,955

  Effect of Exchange Rate Chg                  779          -561        -2,551

Change in Cash & Cash Equiv.               -22,863       -53,416        33,463



Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          09/30/201      9/30/2016     9/30/2015
Current Assets:
  Cash & Cash Equivalents                    63,759        86,622       140,038
  Short Term Investments                          0             0             0
  Net Receivables                           120,666       124,007       124,801
  Inventory                                 930,855       907,337       885,214
  Other Current Assets                       55,223        54,861        37,049
  Total Current Assets                    1,170,503     1,172,827     1,187,102

  Long-Term Investments                           0             0             0
  Property, Plant & Equipt                  313,717       319,558       270,847
  Goodwill                                  537,791       532,714       524,369
  Intangible Assets                          80,305        92,963        98,848
  Accumulated Amortization                        0             0             0
  Other Assets                               20,777        14,001        13,185
  Deferred LT Asset Charges                       0             0             0

Total Assets                              2,123,093     2,132,063     2,094,351

Current Liabilities:
  Accounts Payable                          478,483       487,949       490,944
  Current Portion LT Debt                    96,082           716           755
  Other Current Liabilities                       0             0             0
  Total Current Liabilities                 574,565       488,665        491,699

  Long Term Debt                            478,483       487,949       490,944
  Other Liabilities                          96,082           716           755
  Deferred LT Liab. Charges                       0             0             0
  Minority Interest                               0             0             0
  Negative Goodwill                               0             0             0

Total Liabilities                         2,481,214     2,293,573     2,392,172

Stockholder Equity:
  Misc. Options, Warrants                         0             0             0
  Redeemable Preferred Stock                      0             0             0
  Preferred Stock                                 0             0             0
  Common Stock                                1,296         1,446         1,515
  Retained Earnings                        -283,076      -177,561      -218,670
  Treasury Stock                                  0             0        -2,961
  Capital Surplus                                 0             0             0
  Other Stockhohlder Equity                 -81,836      -100,051       -77,705
  Total Stockholder Equity                 -363,616      -276,166      -297,821

Net Tangible Assets                        -981,712      -901,843      -921,038



Sally Beauty Holdings, Inc. (SBH)           [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            3.0000          P/E Ratio > 5?             1.0000
P/E Ratio Vs Growth Rate:  0.0000          Forward P/E Ratio < 28?    3.0000
Price/Sales Ratio < 2.3?   3.0000          Inventory/Sales < 5%?      0.2115
Sales < $1 Billion?        0.2539          Operating Margin < 7.5%?   0.5910

Balance Sheet Tests:
Debt/Equity < 0.40?        1.0000          Long-Term Debt Service:   -0.2021
LTD Being Reduced?         3.0000          Short-Term Debt Service:   3.0000
Current Ratio > 2?         1.0186          Working Capital >= 1.5?    0.7461
Leverage Ratio < 20%?      0.1321          Debt/Assets < 1?           1.1982
Quick Ratio > 1?           3.0000          Inventory Turnover > 1?    0.6263
Share Equity Increase:     2.2439          Market Cap.< 1.5 Billion?  0.8073
                                           Intangibles < 3% Assets?   0.1030
Income Tests:
Profit Margin < 7.5%?      0.8226          EPS Annual Growth > 10%?   0.1037
Dividend Yield > 2.0%?     0.0000          EPS 3-yr Growth > 15?      0.1640
Enterprise Value/Revenue   0.4722          EPS Growth Consistent?    -2.0000
Enterprise Value/EBITDA:   3.0000          Collection < 45 days?      3.0000
EPS Qrtly Growth > 10%?    0.0000          Gross Pft/Cur. LTD > 1?    3.0000
                                           Borrowing Int. Rate < 6%?  0.7999
Stock Performance Tests:
Volatility > 25%?          1.3689          % Held by Insiders < 5%?   3.0000
Beta > 1.25?              -0.0480          % Held by Institut. < 50?  0.4211
50 Da MA > 200 Da MA?     -0.1303          % Held by Institut. > 30?  3.0000
52-Wk Change vs. S&P 500: -2.3208          Short Ratio > 5?           1.6460
Price/Book Value < 3?     -0.5451          Short % of Float > 20?     0.9835
Return on Assets > 17%?    0.8688          Average Volume > 100,000?  3.0000

Cash Flow Tests:
Oper. C.F. > Lever'd C.F:  1.3252          Positive Free Cash Flow?   3.0000
Positive Oper. Cash Flow?  3.0000          Price to C.F.Ratio < 14?:  3.0000
                                           Cash Flow / Assets > 10%?  3.0000

SBH    Sally Beauty Holdings, Inc.         Overall Zenith Index:      1.2523


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Financial Statements

SALLY BEAUTY HOLDINGS INC  (SBH)            INCOME STATEMENT

Fiscal year ends in September. USD in thousa         2013-09         2014-09         2015-09         2016-09         2017-09             TTM           

Revenue                                            3,622,216       3,753,498       3,834,343       3,952,618       3,938,317       3,942,523
Cost of revenue                                    1,826,953       1,893,326       1,936,492       1,988,678       1,973,422       1,984,491
Gross profit                                       1,795,263       1,860,172       1,897,851       1,963,940       1,964,895       1,958,032


Operating expenses
Sales, General and administrative                  1,202,709       1,273,513       1,313,134       1,365,986       1,351,296       1,356,936
Other operating expenses                              72,192          79,663          89,391          99,657         112,323         112,323
Total operating expenses                           1,274,901       1,353,176       1,402,525       1,465,643       1,463,619       1,469,259

Operating income                                     520,362         506,996         495,326         498,297         501,276         488,773
Interest Expense                                     107,695         116,317         116,842         144,237         132,899         128,530
Other income (expense)                                     0               0               0               0         -22,679         -25,437
Income before income taxes                           412,667         390,679         378,484         354,060         345,698         334,806
Provision for income taxes                           151,516         144,686         143,397         131,118         130,622          87,913
Net income from continuing operations                261,151         245,993         235,087         222,942         215,076         246,893
Net income                                           261,151         245,993         235,087         222,942         215,076         246,893
Net income available to common shareholders          261,151         245,993         235,087         222,942         215,076         246,893

Earnings per share
Basic                                                   1.52            1.54            1.50            1.51            1.56            1.92 
Diluted                                                 1.48            1.51            1.49            1.50            1.56            1.91 

Weighted average shares outstanding
Basic                                                171,682         159,933         156,353         147,179         137,533         129,502
Diluted                                              176,159         163,419         158,226         148,803         138,176         130,070

____________________________________________________________________________________________________________________________________________


SALLY BEAUTY HOLDINGS INC  (SBH)            BALANCE SHEET

Fiscal year ends in September. USD in thousa         2013-09         2014-09         2015-09         2016-09         2017-09             

Assets

Current assets

Cash

Total cash                                            47,115         106,575         140,038          86,622          63,759

Receivables                                          101,176          98,500          91,092          83,983          92,241
Inventories                                          808,313         828,429         885,214         907,337         930,855
Deferred income taxes                                 32,486          31,650          33,709          40,024          28,425
Prepaid expenses                                      26,727               0               0               0               0
Other current assets                                       0          38,995          37,049          54,861          55,223
Total current assets                               1,015,817       1,104,149       1,187,102       1,172,827       1,170,503

Non-current assets

Property, plant and equipment
Land                                                  11,277          11,248          11,074          11,113          11,196
Fixtures and equipment                               321,659         357,849         383,558         476,050         524,773
Other properties                                     271,836         282,222         304,716         300,260         323,809
Property and equipment, at cost                      604,772         651,319         699,348         787,423         859,778
Accumulated Depreciation                            -375,232        -413,208        -428,501        -467,865        -546,061
Property, plant and equipment, net                   229,540         238,111         270,847         319,558         313,717

Goodwill                                             538,278         536,341         524,369         532,714         537,791
Intangible assets                                    130,097         114,744          98,848          92,963          80,305
Other long-term assets                                36,354          36,628          13,185          14,001          20,777
Total non-current assets                             934,269         925,824         907,249         959,236         952,590

Total assets                                       1,950,086       2,029,973       2,094,351       2,132,063       2,123,093 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Short-term debt                                       78,018             974             755             716          96,082
Accounts payable                                     273,456         259,463         275,917         271,376         307,752
Taxes payable                                         10,790           8,795          11,040           6,859           7,020
Accrued liabilities                                   66,248          74,934          79,570          75,761          56,321
Deferred revenues                                     20,890          21,506          22,674          23,220          20,588
Other current liabilities                             93,251          97,865         101,743         110,733          86,802
Total current liabilities                            542,653         463,537         491,699         488,665         574,565

Non-current liabilities
Long-term debt                                     1,612,685       1,810,667       1,783,969       1,783,294       1,771,853
Capital leases                                             0               0           2,870               0               0
Deferred taxes liabilities                            73,941          74,974          85,900         114,656         120,151
Other long-term liabilities                           24,286          27,848          27,734          21,614          20,140
Total non-current liabilities                      1,710,912       1,913,489       1,900,473       1,919,564       1,912,144

Total liabilities                                  2,253,565       2,377,026       2,392,172       2,408,229       2,486,709 

Stockholders' equity

Common stock                                           1,644           1,547           1,515           1,446           1,296
Additional paid-in capital                            91,022               0               0               0               0
Retained earnings                                   -385,090        -320,052        -218,670        -177,561        -283,076
Treasury stock                                        -1,237               0          -2,961               0               0
Accumulated other comprehensive income                -9,818         -28,548         -77,705        -100,051         -81,836
Total stockholders' equity                          -303,479        -347,053        -297,821        -276,166        -363,616
Total liabilities and stockholders' equity         1,950,086       2,029,973       2,094,351       2,132,063       2,123,093

____________________________________________________________________________________________________________________________________________


SALLY BEAUTY HOLDINGS INC  (SBH)            Statement of CASH FLOW

Fiscal year ends in September. USD in thousa         2013-09         2014-09         2015-09         2016-09         2017-09             TTM           

Cash Flows From Operating Activities
Depreciation & amortization                           72,192          79,663          89,391          99,657         112,323         111,616
Deferred income taxes                                 10,480            -815           7,121          21,460          14,122         -19,578
Stock based compensation                              19,201          22,107          16,778          12,580          10,507          10,145
Accounts receivable                                    3,053           4,020             774             936             702          -2,180
Inventory                                            -70,282         -27,533         -80,321         -31,397         -16,343           1,728
Prepaid expenses                                       2,855               0               0               0               0               0
Accounts payable                                      -7,059           2,726          19,575          13,621         -19,601         -10,384
Income taxes payable                                   8,786          -1,529          22,924          -4,331             323          -2,942
Other working capital                                 21,583           1,873           5,183         -20,162         -14,354         -13,650
Other non-cash items                                 249,645         235,460         219,362         258,641         256,699         289,666
Net cash provided by operating activities            310,454         315,972         300,787         351,005         344,378         364,421

Cash Flows From Investing Activities
Investments in property, plant, and equipmen         -84,879         -76,814        -106,532        -151,220         -89,666         -79,025
Property, plant, and equipment reductions                120             258             182           2,531              41               0
Acquisitions, net                                    -22,218          -5,198          -6,468         -26,141               0          -9,175
Other investing charges                                    0               0               0               0               0              41
Net cash used for investing activities              -106,977         -81,754        -112,818        -174,830         -89,625         -88,159

Cash Flows From Financing Activities
Long-term debt issued                                365,500         356,247             983         912,000       1,277,250       1,388,069
Long-term debt repayment                            -291,451        -234,103          -1,814        -938,537      -1,216,643      -1,345,941
Excess tax benefit from stock based compe             15,385          14,646          22,084           1,347          -1,914               0
Repurchases of treasury stock                       -509,704        -333,291        -227,559        -207,312        -346,051        -291,606
Other financing activities                            23,495          22,767          54,351           3,472           8,963          -9,673
Net cash provided by (used for) financing           -396,775        -173,734        -151,955        -229,030        -278,395        -259,151

Effect of exchange rate changes                          193          -1,024          -2,551            -561             779           1,826
Net change in cash                                  -193,105          59,460          33,463         -53,416         -22,863          18,937
Cash at beginning of period                          240,220          47,115         106,575         140,038          86,622          49,119
Cash at end of period                                 47,115         106,575         140,038          86,622          63,759          68,056

Free Cash Flow
Operating cash flow                                  310,454         315,972         300,787         351,005         344,378         364,421
Capital expenditure                                  -84,879         -76,814        -106,532        -151,220         -89,666         -79,025
Free cash flow                                       225,575         239,158         194,255         199,785         254,712         285,396
____________________________________________________________________________________________________________________________________________





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Average to Current P/E Ratios
              (SBH)     Sally Beauty Holdings Inc.

                               2013    2014    2015    2016    2017

          Annual Earnings:     1.48    1.51    1.49    1.50    1.56
Average Price During Year:    27.91   27.52   29.61   28.58   19.93

                P/E Ratio:    18.86   18.23   19.87   19.05   12.77

 Average 5-Year P/E Ratio  =  17.76
             Current Price =  15.35

Previous 5 Quarter Earnings:   0.40    0.49    0.27    0.65    0.49

           Current Annualized (Last Four Quarters) Earnings =   1.41
                                                           ________
                                 Average PE / Current PE =     1.63
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


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Intrinsic Value (DCF)

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Insider Activity

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Sentiment

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Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


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Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



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Management's Discussion of Results of Operations Excerpts

Click Here for Management's Discussion Excerpts



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Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for SALLY BEAUTY HOLDINGS INC.:
Symbol? SBH
Total Months Available:  25
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
  21.36   17.26     20.62   14.05     19.01   14.15

RANGE   =  21.36  TO   14.05            Close =  14.97
CHANNEL =  19.01  TO   17.26           Degree =   2
Volatility =  11.69%                    Index =   2
Channel Chart



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MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



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Intraday Chart

2 Days:



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Val Idea

5 out of 8 favorable, (positive opinion.)

Val Idea


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Stock Consultant

Stock Consultant Stock Consultant


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Point & Figure Chart

P & F Chart


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Wall Street Analyzer




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Marketspace Chart

Marketspace Chart



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Time Series Forecast

Time Series 1 Time Series 2


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Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



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Ultimate Trading Systems

2 out of 3 of the ultimate systems favor a downmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




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Recommendation

Decision Weighting Factors
FactorsWeighted Points
News + 1
Comparison + 1
Industry - 1
Bond Issue + 1
Zenith Index + 1
Non-GAAP vs. GAAP Earnings - 1
Cash Flow + 1
Average to Current P/E + 1
Ratios - 1
Market Grader - 1
Intrinsic Value DCF + 1
Tangible Book Value - 1
Projected Earnings - 1
Research Reports - 1
Analysts - 1
Executive Perquisites + 1
Insider Activity + 1
Institutional Activity - 1
Management Reporting + 1
Short Interest - 1
Sentiment - 1
Standard & Poor's - 1
MACD Histogram Divergence - 1
Val Idea + 1
Stock Consultant 0
Point & Figure - 1
Wall Street Analyzer + 1
Marketspace Chart - 1
Time Series Chart + 1
Neural Network + 1
Stock Options + 1
Ultimate Trading Systems - 1
Total - 1
Place 1,950 shares of Sally Beauty Holdings, Inc. (SBH) on the Active List.