Raymond James Upgrades Sally Beauty (NYSE:SBH) to “Market Perform”

Sally Beauty (NYSE:SBH) was upgraded by Raymond James from an “underperform” rating to a “market perform” rating in a research note issued on Friday, MarketBeat reports.

A number of other research analysts have also recently commented on the company. DA Davidson reissued a “neutral” rating and issued a $12.00 target price on shares of Sally Beauty in a research note on Tuesday, August 13th. Morgan Stanley raised their price objective on Sally Beauty from $8.00 to $12.00 and gave the company an “underweight” rating in a report on Friday. Finally, StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Sally Beauty presently has a consensus rating of “Hold” and an average price target of $12.00.

Sally Beauty Trading Up 9.9 %

Shares of Sally Beauty stock opened at $13.77 on Friday. The company has a 50 day simple moving average of $12.93 and a two-hundred day simple moving average of $11.85. 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 firm has a market cap of $1.41 billion, a PE ratio of 10.05 and a beta of 1.53. Sally Beauty has a 1 year low of $8.59 and a 1 year high of $14.09.

Institutional Investors Weigh In On Sally Beauty

A number of hedge funds and other institutional investors have recently modified their holdings of SBH. FMR LLC grew its position in Sally Beauty by 2.6% during the 3rd quarter. FMR LLC now owns 15,396,347 shares of the specialty retailer’s stock worth $208,928,000 after acquiring an additional 387,736 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Sally Beauty by 0.3% in the third quarter. Victory Capital Management Inc. now owns 3,514,726 shares of the specialty retailer’s stock worth $47,695,000 after purchasing an additional 10,016 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Sally Beauty by 34.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,287,674 shares of the specialty retailer’s stock worth $35,276,000 after buying an additional 833,720 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Sally Beauty by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,546,108 shares of the specialty retailer’s stock valued at $34,551,000 after buying an additional 80,712 shares during the last quarter. Finally, Invenomic Capital Management LP boosted its position in Sally Beauty by 96.8% during the 1st quarter. Invenomic Capital Management LP now owns 1,223,728 shares of the specialty retailer’s stock valued at $15,199,000 after buying an additional 601,903 shares during the period.

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.