Sally Beauty (NYSE:SBH) Rating Increased to Buy at StockNews.com

Sally Beauty (NYSE:SBH) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

SBH has been the subject of several other research reports. DA Davidson reissued a “neutral” rating and set a $12.00 price objective on shares of Sally Beauty in a research report on Tuesday, August 13th. Piper Sandler cut their price target on Sally Beauty from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.00.

Sally Beauty Stock Up 2.6 %

SBH opened at $13.45 on Monday. The firm has a market cap of $1.38 billion, a P/E ratio of 9.17 and a beta of 1.54. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.40 and a current ratio of 2.12. The business has a 50 day moving average price of $11.70 and a 200 day moving average price of $11.41. Sally Beauty has a twelve month low of $7.21 and a twelve month high of $13.91.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings data on Thursday, August 8th. The specialty retailer reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $942.30 million during the quarter, compared to analysts’ expectations of $931.77 million. Sally Beauty had a net margin of 3.99% and a return on equity of 31.88%. Sally Beauty’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. Research analysts forecast that Sally Beauty will post 1.66 EPS for the current year.

Institutional Trading of Sally Beauty

A number of hedge funds have recently modified their holdings of SBH. Quadrant Capital Group LLC lifted its position in Sally Beauty by 168.6% in the fourth quarter. Quadrant Capital Group LLC now owns 4,507 shares of the specialty retailer’s stock worth $60,000 after purchasing an additional 2,829 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sally Beauty during the 1st quarter valued at about $64,000. Quest Partners LLC increased its stake in Sally Beauty by 16,095.6% in the second quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer’s stock valued at $78,000 after acquiring an additional 7,243 shares during the period. Algert Global LLC acquired a new position in Sally Beauty in the second quarter worth about $113,000. Finally, Meeder Asset Management Inc. bought a new position in Sally Beauty during the second quarter worth about $117,000.

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.