Sally Beauty (NYSE:SBH) Raised 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 report issued on Saturday.

Other equities analysts also recently issued research reports about the stock. DA Davidson increased their price objective on shares of Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Morgan Stanley raised their target price on Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a research note on Friday, November 15th. TD Cowen upped their price objective on shares of Sally Beauty from $13.00 to $14.00 and gave the company a “hold” rating in a report on Friday, November 15th. Finally, Raymond James raised Sally Beauty from an “underperform” rating to a “market perform” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.00.

Sally Beauty Stock Performance

Shares of NYSE SBH opened at $12.97 on Friday. Sally Beauty has a 12 month low of $9.06 and a 12 month high of $14.36. The stock has a 50 day moving average of $13.05 and a 200-day moving average of $11.97. The company has a current ratio of 2.20, a quick ratio of 0.45 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $1.32 billion, a P/E ratio of 9.01 and a beta of 1.53.

Sally Beauty (NYSE:SBH) last announced its earnings results on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $935.00 million for the quarter, compared to analyst estimates of $935.88 million. Sally Beauty had a return on equity of 31.37% and a net margin of 4.13%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. As a group, equities research analysts predict that Sally Beauty will post 1.84 EPS for the current year.

Hedge Funds Weigh In On Sally Beauty

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in Sally Beauty in the second quarter worth approximately $11,796,000. Dimensional Fund Advisors LP grew its holdings 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 purchasing an additional 833,720 shares during the last quarter. Millennium Management LLC raised its position in Sally Beauty by 945.0% in the 2nd quarter. Millennium Management LLC now owns 847,956 shares of the specialty retailer’s stock worth $9,099,000 after purchasing an additional 766,815 shares during the period. Invenomic Capital Management LP grew its stake in shares of Sally Beauty by 96.8% in the first quarter. Invenomic Capital Management LP now owns 1,223,728 shares of the specialty retailer’s stock worth $15,199,000 after purchasing an additional 601,903 shares during the last quarter. Finally, FMR LLC increased its holdings in 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 purchasing an additional 387,736 shares during the period.

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.