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RGS

Regis

$16.80

0.29 (1.76%)

06:03
01/16/20
01/16
06:03
01/16/20
06:03

Regis undergoes restructuring actions to save $18.7M annually

Regis completed certain restructuring actions to improve its financial performance and further align costs with the company's transition to a fully franchised business model. Regis has eliminated administrative costs and personnel substantially required to support the company's historical portfolio of owned and operated salons. The restructuring actions, which reduces the company's administration staff by approximately 290 positions, including 15 contractors, across the US and Canada, is expected to result in approximately $18.7M of annualized general and administrative expense savings.

  • 20

    Jan

RGS Regis
$16.80

0.29 (1.76%)

04/05/19
LOOP
04/05/19
INITIATION
Target $25
LOOP
Buy
Regis initiated with a Buy at Loop Capital
Loop Capital analyst Laura Champine initiated Regis with a Buy rating and a price target of $25, saying the company's margins and ROIC should improve from its conversion to a franchised business model. While revenues may decline as Regis sells off locations and restructuring weighs on profitability in FY20, the analyst believes that the new business model should have better earnings visibility and an improved cash conversion cycle after the completion of the franchise expansion phase.
04/05/19
04/05/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Wex (WEX) initiated with a Neutral at Baird. 2. Restaurant Brands (QSR) initiated with an Outperform at Bernstein. 3. Corbus Pharmaceuticals (CRBP) initiated with a Buy at Jefferies. 4. Trex Company (TREX) initiated with a Buy at DA Davidson. 5. Regis (RGS) initiated with a Buy at Loop Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/07/19
JEFF
10/07/19
NO CHANGE
Target $26
JEFF
Buy
Regis price target raised to $26 from $24 at Jefferies
Jefferies analyst Stephanie Wissink raised her price target for Regis to $26 from $24 and keeps a Buy rating on the shares after hosting investor meetings with management. The analyst left with clarity around the future state of the business model, where she notes 100% of salons are franchised, "backed by a more sophisticated support-focused corporate structure." She assumes Regis will repurchase 30% of its outstanding shares over the next few years and that a dividend is possible.

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$NYE

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VOYA

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I

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INTC

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$60.89

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SNX

Synnex

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UGAZ

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CEA

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CSS

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MNK

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MICT

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