Gabelli Maintains Buy on Sally Beauty

Gabelli is out with its report today on Sally Beauty SBH, maintaining Buy. In its report, Gabelli writes, "Maintaining Buy; SBH is the leading distributor of professional products in the US and is expanding in other regions, including Canada, Mexico and Europe. Same store sales continue to be driven by its loyalty and marketing programs in the US, international growth initiatives, as well as market share gains. Over the long-term, we expect SBH to generate double-digit earnings through same-store sales growth, international expansion, coupled with margin improvement, driven by cost savings efforts and continued shift to more profitable business in the US and abroad, in addition to lower interest expense." At the time of posting, shares of SBH were trading at $16.75, down 0.89% from Friday's close.