Sally Beauty (NYSE:SBH) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Sally Beauty (NYSE:SBH) from a hold rating to a buy rating in a report released on Monday morning.

Several other equities research analysts have also recently issued reports on the company. Morgan Stanley reduced their target price on Sally Beauty from $11.00 to $10.00 and set an underweight rating on the stock in a report on Tuesday, August 22nd. DA Davidson reduced their target price on Sally Beauty from $17.00 to $12.00 and set a neutral rating on the stock in a report on Wednesday, August 16th. Finally, Piper Sandler reduced their target price on Sally Beauty from $15.00 to $11.00 in a report on Tuesday, October 10th. One research 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 MarketBeat.com, Sally Beauty has a consensus rating of Hold and an average target price of $12.50.

Sally Beauty Price Performance

Shares of Sally Beauty stock opened at $8.64 on Monday. The stock’s 50-day simple moving average is $8.40 and its 200-day simple moving average is $10.47. Sally Beauty has a 52 week low of $7.21 and a 52 week high of $18.42. The company has a market capitalization of $931.13 million, a price-to-earnings ratio of 5.80 and a beta of 1.41. The company has a quick ratio of 0.36, a current ratio of 2.12 and a debt-to-equity ratio of 2.18.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings data on Tuesday, November 14th. The specialty retailer reported $0.42 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.04). Sally Beauty had a net margin of 4.33% and a return on equity of 52.92%. The business had revenue of $912.40 million during the quarter, compared to analysts’ expectations of $930.35 million. During the same quarter in the previous year, the firm earned $0.50 earnings per share. Sally Beauty’s revenue was down 5.2% on a year-over-year basis. As a group, analysts expect that Sally Beauty will post 1.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sally Beauty

Large investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC bought a new stake in Sally Beauty during the first quarter worth approximately $759,000. Royal Bank of Canada increased its stake in Sally Beauty by 143.5% during the third quarter. Royal Bank of Canada now owns 2,187 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 1,289 shares during the last quarter. US Bancorp DE increased its stake in Sally Beauty by 126.7% during the second quarter. US Bancorp DE now owns 2,346 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 1,311 shares during the last quarter. State of Wyoming bought a new position in shares of Sally Beauty during the fourth quarter valued at approximately $32,000. Finally, UBS Group AG grew its stake in shares of Sally Beauty by 101.2% during the first quarter. UBS Group AG now owns 5,008 shares of the specialty retailer’s stock valued at $78,000 after buying an additional 423,610 shares during the last quarter.

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.