Canaccord Genuity Group Initiates Coverage on Sally Beauty (NYSE:SBH)

Research analysts at Canaccord Genuity Group initiated coverage on shares of Sally Beauty (NYSE:SBH) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $14.00 price target on the specialty retailer’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 27.04% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. StockNews.com raised shares of Sally Beauty from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. Raymond James raised shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a research note on Friday, November 15th. TD Cowen upgraded Sally Beauty from a “hold” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a research note on Monday, November 25th. Morgan Stanley lifted their price target on Sally Beauty from $8.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. Finally, DA Davidson upped their price objective on Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Sally Beauty has a consensus rating of “Hold” and a consensus price target of $13.60.

Sally Beauty Trading Down 1.1 %

Shares of SBH stock opened at $11.02 on Thursday. The stock has a market cap of $1.12 billion, a P/E ratio of 7.65 and a beta of 1.56. Sally Beauty has a 1 year low of $9.06 and a 1 year high of $14.79. The company has a current ratio of 2.20, a quick ratio of 0.45 and a debt-to-equity ratio of 1.56. The stock has a 50 day simple moving average of $12.28 and a 200 day simple moving average of $12.22.

Sally Beauty (NYSE:SBH) last released its earnings results on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Sally Beauty had a return on equity of 31.37% and a net margin of 4.13%. The firm had revenue of $935.00 million during the quarter, compared to the consensus estimate of $935.88 million. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. On average, research analysts predict that Sally Beauty will post 1.85 earnings per share for the current fiscal year.

Insider Activity at Sally Beauty

In related news, CAO Kim Mcintosh sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.53, for a total value of $62,479.00. Following the completion of the transaction, the chief accounting officer now owns 16,685 shares in the company, valued at $242,433.05. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott C. Sherman sold 13,500 shares of the company’s stock in a transaction that occurred 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 owns 42,431 shares of the company’s stock, valued at approximately $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 Trading of Sally Beauty

Several institutional investors have recently modified their holdings of SBH. Marshall Wace LLP bought a new position in shares of Sally Beauty in the 2nd quarter worth $11,796,000. Dimensional Fund Advisors LP grew its stake in Sally Beauty by 34.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,287,674 shares of the specialty retailer’s stock valued at $35,276,000 after purchasing an additional 833,720 shares during the period. Millennium Management LLC raised its stake in shares of Sally Beauty by 945.0% during the 2nd quarter. Millennium Management LLC now owns 847,956 shares of the specialty retailer’s stock worth $9,099,000 after purchasing an additional 766,815 shares during the period. FMR LLC boosted its stake in Sally Beauty by 2.6% in the third quarter. FMR LLC now owns 15,396,347 shares of the specialty retailer’s stock valued at $208,928,000 after acquiring an additional 387,736 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Sally Beauty by 306.7% in the third quarter. JPMorgan Chase & Co. now owns 341,465 shares of the specialty retailer’s stock worth $4,634,000 after buying an additional 257,510 shares during 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.