Sally Beauty (NYSE:SBH) Hits New 12-Month High After Analyst Upgrade

Sally Beauty Holdings, Inc. (NYSE:SBH)’s share price hit a new 52-week high on Friday after TD Cowen raised their price target on the stock from $13.00 to $14.00. TD Cowen currently has a hold rating on the stock. Sally Beauty traded as high as $14.36 and last traded at $13.58, with a volume of 163091 shares trading hands. The stock had previously closed at $13.78.

SBH has been the subject of several other research reports. 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. DA Davidson lifted their price objective on Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday. StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Finally, Raymond James upgraded Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SBH. Sei Investments Co. boosted its holdings in shares of Sally Beauty by 9.1% during the 1st quarter. Sei Investments Co. now owns 196,569 shares of the specialty retailer’s stock worth $2,441,000 after purchasing an additional 16,314 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Sally Beauty by 51.9% during the 1st quarter. Russell Investments Group Ltd. now owns 47,181 shares of the specialty retailer’s stock worth $586,000 after purchasing an additional 16,120 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Sally Beauty by 7.1% during the 1st quarter. ProShare Advisors LLC now owns 21,589 shares of the specialty retailer’s stock worth $268,000 after purchasing an additional 1,426 shares during the last quarter. Boulder Hill Capital Management LP acquired a new position in shares of Sally Beauty during the 1st quarter worth approximately $1,027,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of Sally Beauty by 303.7% during the 1st quarter. Lazard Asset Management LLC now owns 429,938 shares of the specialty retailer’s stock worth $5,339,000 after purchasing an additional 323,438 shares during the last quarter.

Sally Beauty Trading Down 2.7 %

The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 9.79 and a beta of 1.53. The company has a fifty day moving average price of $12.96 and a two-hundred day moving average price of $11.87. The company has a current ratio of 2.12, a quick ratio of 0.40 and a debt-to-equity ratio of 1.69.

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 products, skin and nail care products, styling tools, and other beauty products for retail customers, salons, and salon professionals.