Sally Beauty (NYSE:SBH) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, Benzinga reports.
Other analysts have also recently issued research reports about the stock. Oppenheimer reduced their price objective on shares of Sally Beauty from $19.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 3rd. Bank of America lowered their target price on shares of Sally Beauty from $12.00 to $11.00 and set an “underperform” rating on the stock in a report on Monday, November 16th. DA Davidson lowered their target price on shares of Sally Beauty from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Friday, November 13th. Finally, Zacks Investment Research lowered shares of Sally Beauty from a “buy” rating to a “hold” rating and set a $9.00 target price on the stock. in a report on Tuesday, November 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $11.29.
SBH stock opened at $13.83 on Wednesday. The company has a market cap of $1.56 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 0.24 and a beta of 1.54. Sally Beauty has a twelve month low of $6.28 and a twelve month high of $16.56. The company has a quick ratio of 1.10, a current ratio of 2.54 and a debt-to-equity ratio of 116.36. The business’s fifty day moving average is $12.64 and its 200-day moving average is $11.52.
Sally Beauty (NYSE:SBH) last posted its quarterly earnings results on Tuesday, November 17th. The specialty retailer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07. Sally Beauty had a negative return on equity of 535.36% and a net margin of 3.22%. The business had revenue of $957.80 million during the quarter, compared to analysts’ expectations of $988.54 million. During the same quarter last year, the company posted $0.58 earnings per share. Sally Beauty’s quarterly revenue was down .8% on a year-over-year basis. Research analysts anticipate that Sally Beauty will post 1.86 earnings per share for the current fiscal year.
In related news, CEO Christian A. Brickman acquired 11,350 shares of the firm’s stock in a transaction that occurred on Tuesday, November 17th. The stock was purchased at an average cost of $10.94 per share, with a total value of $124,169.00. Following the transaction, the chief executive officer now directly owns 457,571 shares of the company’s stock, valued at approximately $5,005,826.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward W. Rabin acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 17th. The stock was bought at an average cost of $11.04 per share, with a total value of $44,160.00. Following the completion of the transaction, the director now directly owns 31,826 shares in the company, valued at $351,359.04. The disclosure for this purchase can be found here. 3.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SBH. Nisa Investment Advisors LLC acquired a new stake in Sally Beauty during the 3rd quarter worth $25,000. Canton Hathaway LLC purchased a new stake in shares of Sally Beauty during the third quarter worth approximately $50,000. Advisor Group Holdings Inc. raised its position in Sally Beauty by 25.8% in the second quarter. Advisor Group Holdings Inc. now owns 5,596 shares of the specialty retailer’s stock worth $69,000 after acquiring an additional 1,148 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new stake in Sally Beauty in the third quarter valued at $113,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Sally Beauty in the third quarter valued at $127,000.
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, skin and nail care, styling tools, and other beauty products for retail customers, salons, and salon professionals.
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