Sally Beauty (NYSE:SBH) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Sally Beauty (NYSE:SBH) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

A number of other equities analysts have also commented on the company. Raymond James raised Sally Beauty from an “underperform” rating to a “market perform” rating in a research note on Friday, November 15th. TD Cowen raised shares of Sally Beauty from a “hold” rating to a “buy” rating and upped their price target for the company from $14.00 to $16.00 in a research report on Monday, November 25th. DA Davidson lowered their price objective on Sally Beauty from $13.00 to $10.50 and set a “neutral” rating for the company in a research report on Tuesday. Morgan Stanley cut their target price on Sally Beauty from $12.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group began coverage on Sally Beauty in a report on Thursday, January 16th. They issued a “buy” rating and a $14.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.70.

Sally Beauty Stock Performance

Sally Beauty stock opened at $8.94 on Wednesday. The business has a 50 day moving average of $10.70 and a 200-day moving average of $12.09. The company has a market capitalization of $910.96 million, a P/E ratio of 5.35 and a beta of 1.55. Sally Beauty has a 1 year low of $8.88 and a 1 year high of $14.79. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.27 and a quick ratio of 0.44.

Sally Beauty (NYSE:SBH) last released its quarterly earnings results on Thursday, February 13th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. Sally Beauty had a net margin of 4.73% and a return on equity of 30.35%. The firm had revenue of $937.90 million during the quarter, compared to the consensus estimate of $941.44 million. On average, equities research analysts predict that Sally Beauty will post 1.81 earnings per share for the current year.

Insider Activity

In other Sally Beauty news, CAO Kim Mcintosh sold 4,300 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.53, for a total transaction of $62,479.00. Following the transaction, the chief accounting officer now owns 16,685 shares in the company, valued at approximately $242,433.05. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Scott C. Sherman sold 13,500 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.49, for a total transaction of $195,615.00. Following the completion of the transaction, the insider now directly owns 42,431 shares in the company, valued at $614,825.19. This trade represents a 24.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sally Beauty

Institutional investors and hedge funds have recently made changes to their positions in the business. Hancock Whitney Corp raised its stake in shares of Sally Beauty by 1.9% in the third quarter. Hancock Whitney Corp now owns 40,661 shares of the specialty retailer’s stock worth $552,000 after purchasing an additional 773 shares during the last quarter. Corient Private Wealth LLC grew its position in Sally Beauty by 5.9% in the 4th quarter. Corient Private Wealth LLC now owns 19,181 shares of the specialty retailer’s stock worth $200,000 after purchasing an additional 1,069 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Sally Beauty by 8.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,395 shares of the specialty retailer’s stock valued at $140,000 after buying an additional 1,090 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Sally Beauty by 119.1% in the 4th quarter. Federated Hermes Inc. now owns 3,702 shares of the specialty retailer’s stock worth $39,000 after buying an additional 2,012 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Sally Beauty by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,569 shares of the specialty retailer’s stock valued at $612,000 after acquiring an additional 2,137 shares in the last quarter.

Sally Beauty Company Profile

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.