Sally Beauty (NYSE:SBH) Hits New 12-Month Low – Here’s Why

Sally Beauty Holdings, Inc. (NYSE:SBH) reached a new 52-week low on Thursday . The company traded as low as $8.06 and last traded at $8.18, with a volume of 767711 shares traded. The stock had previously closed at $9.09.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBH. Morgan Stanley cut their price objective on Sally Beauty from $12.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. DA Davidson cut their price target on Sally Beauty from $13.00 to $10.50 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Canaccord Genuity Group began coverage on Sally Beauty in a research note on Thursday, January 16th. They issued a “buy” rating and a $14.00 price target for the company. Finally, StockNews.com upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.70.

Sally Beauty Stock Performance

The company has a debt-to-equity ratio of 1.43, a current ratio of 2.27 and a quick ratio of 0.44. The firm has a fifty day simple moving average of $9.40 and a 200 day simple moving average of $11.42. The company has a market cap of $874.26 million, a price-to-earnings ratio of 5.13 and a beta of 1.35.

Sally Beauty (NYSE:SBH) last released its earnings results on Thursday, February 13th. The specialty retailer reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $937.90 million during the quarter, compared to analyst estimates of $941.44 million. Sally Beauty had a net margin of 4.73% and a return on equity of 30.35%. On average, sell-side analysts expect that Sally Beauty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Institutional Trading of Sally Beauty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBH. Millennium Management LLC boosted its position in shares of Sally Beauty by 1,177.7% in the fourth quarter. Millennium Management LLC now owns 1,136,121 shares of the specialty retailer’s stock valued at $11,872,000 after acquiring an additional 1,047,199 shares during the period. Lightrock Netherlands B.V. bought a new stake in Sally Beauty in the 4th quarter valued at $9,413,000. Ranmore Fund Management Ltd bought a new stake in Sally Beauty in the 4th quarter valued at $8,517,000. Invesco Ltd. grew its position in Sally Beauty by 102.1% in the 4th quarter. Invesco Ltd. now owns 1,418,465 shares of the specialty retailer’s stock worth $14,823,000 after purchasing an additional 716,613 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Sally Beauty during the 4th quarter worth about $6,746,000.

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.