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

Sally Beauty Holdings, Inc. (NYSE:SBH) hit a new 52-week high during mid-day trading 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 changing hands. The stock had previously closed at $13.78.

Several other analysts have also recently issued reports on the company. Raymond James raised Sally Beauty from an “underperform” rating to a “market perform” rating in a research report on Friday. Morgan Stanley raised their price objective on Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a research report on Friday. DA Davidson raised their price objective on Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.00.

Institutional Trading of Sally Beauty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBH. Marshall Wace LLP acquired a new stake in Sally Beauty during the 2nd quarter worth about $11,796,000. Dimensional Fund Advisors LP raised its stake in shares of Sally Beauty by 34.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,287,674 shares of the specialty retailer’s stock valued at $35,276,000 after buying an additional 833,720 shares during the last quarter. Millennium Management LLC raised its stake in shares of Sally Beauty by 945.0% during the 2nd quarter. Millennium Management LLC now owns 847,956 shares of the specialty retailer’s stock valued at $9,099,000 after buying an additional 766,815 shares during the last quarter. Invenomic Capital Management LP raised its stake in shares of Sally Beauty by 96.8% during the 1st quarter. Invenomic Capital Management LP now owns 1,223,728 shares of the specialty retailer’s stock valued at $15,199,000 after buying an additional 601,903 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Sally Beauty by 2.6% during the 3rd quarter. FMR LLC now owns 15,396,347 shares of the specialty retailer’s stock valued at $208,928,000 after buying an additional 387,736 shares during the last quarter.

Sally Beauty Price Performance

The stock has a 50 day simple moving average of $12.96 and a two-hundred day simple moving average of $11.87. The firm has a market cap of $1.38 billion, a PE ratio of 9.79 and a beta of 1.53. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.40 and a current ratio of 2.12.

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.