Sally Beauty (NYSE:SBH) Price Target Cut to $16.00

Sally Beauty (NYSE:SBHFree Report) had its price target cut by Piper Sandler from $17.00 to $16.00 in a report released on Tuesday, Benzinga reports. They currently have an overweight rating on the specialty retailer’s stock.

SBH has been the topic of a number of other reports. DA Davidson upped their price target on shares of Sally Beauty from $12.00 to $13.00 and gave the stock a neutral rating in a research note on Wednesday, February 7th. StockNews.com cut shares of Sally Beauty from a buy rating to a hold rating in a report on Tuesday, November 21st.

Get Our Latest Stock Analysis on Sally Beauty

Sally Beauty Stock Performance

Shares of SBH opened at $11.72 on Tuesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.45 and a current ratio of 2.20. The stock has a market capitalization of $1.23 billion, a P/E ratio of 7.46 and a beta of 1.47. The company’s fifty day moving average is $12.56 and its two-hundred day moving average is $10.81. Sally Beauty has a 1 year low of $7.21 and a 1 year high of $15.93.

Sally Beauty (NYSE:SBHGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $931.30 million for the quarter, compared to analysts’ expectations of $929.49 million. Sally Beauty had a net margin of 4.66% and a return on equity of 37.78%. Sally Beauty’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, sell-side analysts predict that Sally Beauty will post 1.87 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SBH. Wasatch Advisors LP purchased a new position in Sally Beauty in the fourth quarter valued at about $42,433,000. Victory Capital Management Inc. increased its stake in shares of Sally Beauty by 8,891.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,804,102 shares of the specialty retailer’s stock worth $37,238,000 after purchasing an additional 2,772,915 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Sally Beauty during the 2nd quarter worth approximately $26,989,000. Balyasny Asset Management LLC increased its stake in shares of Sally Beauty by 1,747.0% during the 3rd quarter. Balyasny Asset Management LLC now owns 1,857,271 shares of the specialty retailer’s stock worth $23,402,000 after purchasing an additional 1,756,714 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its stake in shares of Sally Beauty by 66.2% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 3,988,147 shares of the specialty retailer’s stock worth $33,421,000 after purchasing an additional 1,588,147 shares in the last quarter.

About Sally Beauty

(Get Free Report)

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.

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