Sally Beauty (NYSE:SBH) Raised to “Buy” at TD Cowen

Sally Beauty (NYSE:SBH) was upgraded by equities researchers at TD Cowen from a “hold” rating to a “buy” rating in a research report issued on Monday, MarketBeat reports. The firm presently has a $16.00 price objective on the specialty retailer’s stock, up from their prior price objective of $14.00. TD Cowen’s price target suggests a potential upside of 12.52% from the company’s current price.

A number of other research firms have also commented on SBH. Morgan Stanley upped their price objective on shares of Sally Beauty from $8.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. StockNews.com raised shares of Sally Beauty from a “hold” rating to a “buy” rating in a research report on Saturday. DA Davidson increased their price target on shares of Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Finally, Raymond James raised shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.50.

Sally Beauty Price Performance

SBH stock opened at $14.22 on Monday. The company has a current ratio of 2.20, a quick ratio of 0.45 and a debt-to-equity ratio of 1.56. Sally Beauty has a one year low of $9.06 and a one year high of $14.64. The firm has a market capitalization of $1.45 billion, a PE ratio of 9.88 and a beta of 1.53. The firm has a 50-day moving average of $13.07 and a two-hundred day moving average of $11.99.

Sally Beauty (NYSE:SBH) last posted its quarterly earnings data on Thursday, November 14th. The specialty retailer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Sally Beauty had a net margin of 4.13% and a return on equity of 31.37%. The company had revenue of $935.00 million during the quarter, compared to analyst estimates of $935.88 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts forecast that Sally Beauty will post 1.84 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Scott C. Sherman sold 13,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.49, for a total value of $195,615.00. Following the transaction, the insider now owns 42,431 shares in the company, valued at approximately $614,825.19. This represents a 24.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Kim Mcintosh sold 4,300 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.53, for a total value of $62,479.00. Following the completion of the transaction, the chief accounting officer now owns 16,685 shares in the company, valued at $242,433.05. This represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sally Beauty

A number of hedge funds have recently added to or reduced their stakes in the company. Hancock Whitney Corp grew its holdings in Sally Beauty by 1.9% during the third quarter. Hancock Whitney Corp now owns 40,661 shares of the specialty retailer’s stock valued at $552,000 after purchasing an additional 773 shares during the last quarter. Diversified Trust Co grew its holdings in Sally Beauty by 2.7% during the second quarter. Diversified Trust Co now owns 33,948 shares of the specialty retailer’s stock valued at $364,000 after purchasing an additional 898 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Sally Beauty by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 51,196 shares of the specialty retailer’s stock valued at $549,000 after purchasing an additional 1,395 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in Sally Beauty by 19.9% during the second quarter. Evergreen Capital Management LLC now owns 13,070 shares of the specialty retailer’s stock valued at $140,000 after purchasing an additional 2,169 shares during the last quarter. Finally, Quarry LP grew its holdings 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.

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.