Sally Beauty (NYSE:SBH) Shares Gap Up to $11.35

Sally Beauty Holdings, Inc. (NYSE:SBH) shares gapped up before the market opened on Thursday . The stock had previously closed at $11.35, but opened at $11.95. Sally Beauty shares last traded at $12.06, with a volume of 90,359 shares.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SBH. DA Davidson reiterated a “neutral” rating and set a $12.00 target price on shares of Sally Beauty in a research note on Tuesday. Piper Sandler decreased their target price on shares of Sally Beauty from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. StockNews.com upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, TD Cowen decreased their target price on shares of Sally Beauty from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Sally Beauty Stock Performance

The company has a debt-to-equity ratio of 1.69, a current ratio of 2.12 and a quick ratio of 0.40. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 8.20 and a beta of 1.54. The stock’s 50-day moving average is $10.82 and its 200 day moving average is $11.47.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings data on Thursday, August 8th. The specialty retailer reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $942.30 million during the quarter, compared to the consensus estimate of $931.77 million. Sally Beauty had a net margin of 3.99% and a return on equity of 31.88%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 earnings per share. As a group, analysts predict that Sally Beauty Holdings, Inc. will post 1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP increased its holdings in Sally Beauty by 16.8% in the first quarter. Wasatch Advisors LP now owns 3,731,016 shares of the specialty retailer’s stock valued at $46,339,000 after buying an additional 535,753 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Sally Beauty by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,242,861 shares of the specialty retailer’s stock worth $29,785,000 after purchasing an additional 131,603 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Sally Beauty by 303.7% during the 1st quarter. Lazard Asset Management LLC now owns 429,938 shares of the specialty retailer’s stock worth $5,339,000 after purchasing an additional 323,438 shares in the last quarter. Profit Investment Management LLC purchased a new position in shares of Sally Beauty during the 1st quarter worth approximately $1,737,000. Finally, Victory Capital Management Inc. increased its stake in shares of Sally Beauty by 8,891.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,804,102 shares of the specialty retailer’s stock worth $37,238,000 after purchasing an additional 2,772,915 shares in the last quarter.

About Sally Beauty

Sally Beauty Holdings, Inc 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 products, skin and nail care products, styling tools, and other beauty products for retail customers, salons, and salon professionals.