Zacks Investment Research Upgrades Regis (NYSE:RGS) to “Hold”

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Regis (NYSE:RGS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Regis Corporation owns, franchises and operates beauty salons. Regis’ corporate and franchised locations operate under concepts such as Supercuts, SmartStyle, MasterCuts, Regis Salons, Sassoon Salon, Cost Cutters and First Choice Haircutters. Regis maintains ownership interests in Empire Education Group in the U.S. and the MY Style concepts in Japan. “

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RGS opened at $7.02 on Tuesday. Regis has a 12 month low of $4.80 and a 12 month high of $14.39. The stock has a fifty day moving average of $8.56. The company has a current ratio of 0.58, a quick ratio of 0.39 and a debt-to-equity ratio of 3.59. The company has a market cap of $251.25 million, a price-to-earnings ratio of -1.65 and a beta of 2.84.

A number of hedge funds have recently made changes to their positions in RGS. Ameriprise Financial Inc. grew its stake in Regis by 348.2% during the 1st quarter. Ameriprise Financial Inc. now owns 518,540 shares of the company’s stock worth $6,513,000 after buying an additional 402,855 shares during the last quarter. Royce & Associates LP grew its stake in Regis by 28.4% during the 1st quarter. Royce & Associates LP now owns 1,677,343 shares of the company’s stock valued at $21,067,000 after purchasing an additional 370,890 shares during the last quarter. BlackRock Inc. grew its stake in Regis by 6.3% during the 1st quarter. BlackRock Inc. now owns 3,963,919 shares of the company’s stock valued at $49,787,000 after purchasing an additional 233,573 shares during the last quarter. Morgan Stanley grew its stake in Regis by 150.8% during the 2nd quarter. Morgan Stanley now owns 236,034 shares of the company’s stock valued at $2,209,000 after purchasing an additional 141,919 shares during the last quarter. Finally, Sasco Capital Inc. CT purchased a new stake in Regis during the 2nd quarter valued at about $1,284,000. Hedge funds and other institutional investors own 99.55% of the company’s stock.

Regis Company Profile

Regis Corporation owns, operates, and franchises hairstyling and hair care salons in the United States, the United Kingdom, Canada, and Puerto Rico. The company operates in two segments, Company-owned Salons and Franchise Salons. Its salons provide haircutting and styling, including shampooing and conditioning; hair coloring; and other services, as well as sells various hair care and other beauty products.

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