StockNews.com Upgrades Sally Beauty (NYSE:SBH) to Buy

Sally Beauty (NYSE:SBH) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group started coverage on Sally Beauty in a research note on Thursday, January 16th. They issued a “buy” rating and a $14.00 price objective on the stock. Raymond James upgraded shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a research note on Friday, November 15th. DA Davidson lowered their price target on shares of Sally Beauty from $13.00 to $10.50 and set a “neutral” rating on the stock in a report on Tuesday. Morgan Stanley reduced their price objective on shares of Sally Beauty from $12.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Finally, TD Cowen upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating and lifted their target price for the company from $14.00 to $16.00 in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Sally Beauty presently has a consensus rating of “Hold” and a consensus target price of $12.70.

Sally Beauty Stock Performance

SBH opened at $9.32 on Wednesday. The company’s 50 day moving average is $10.77 and its 200 day moving average is $12.10. The company has a current ratio of 2.27, a quick ratio of 0.44 and a debt-to-equity ratio of 1.43. The company has a market cap of $949.66 million, a price-to-earnings ratio of 5.58 and a beta of 1.55. Sally Beauty has a 12-month low of $9.03 and a 12-month high of $14.79.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings results on Thursday, February 13th. The specialty retailer reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. Sally Beauty had a net margin of 4.73% and a return on equity of 30.35%. The business had revenue of $937.90 million for the quarter, compared to analysts’ expectations of $941.44 million. On average, equities research analysts predict that Sally Beauty will post 1.83 EPS for the current year.

Insider Buying and Selling at Sally Beauty

In related news, insider Scott C. Sherman sold 13,500 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.49, for a total value of $195,615.00. Following the sale, the insider now directly owns 42,431 shares in the company, valued at approximately $614,825.19. The trade was a 24.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Kim Mcintosh sold 4,300 shares of the 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 transaction, the chief accounting officer now directly owns 16,685 shares of the company’s stock, valued at approximately $242,433.05. The trade was a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.

Institutional Trading of Sally Beauty

Several hedge funds have recently modified their holdings of the company. Federated Hermes Inc. grew its holdings in shares of Sally Beauty by 119.1% in the fourth quarter. Federated Hermes Inc. now owns 3,702 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 2,012 shares in the last quarter. Quarry LP lifted its position in Sally Beauty by 369.3% during the third quarter. Quarry LP now owns 2,980 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 2,345 shares during the last quarter. R Squared Ltd purchased a new position in shares of Sally Beauty in the 4th quarter worth $56,000. KBC Group NV increased its holdings in shares of Sally Beauty by 89.0% in the 4th quarter. KBC Group NV now owns 5,871 shares of the specialty retailer’s stock worth $61,000 after buying an additional 2,764 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Sally Beauty during the 3rd quarter valued at about $64,000.

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.