Sally Beauty (NYSE:SBH) Price Target Cut to $11.00

Sally Beauty (NYSE:SBH) had its target price cut by stock analysts at TD Cowen from $13.00 to $11.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the specialty retailer’s stock. TD Cowen’s price objective suggests a potential upside of 4.17% from the company’s current price.

SBH has been the topic of a number of other research reports. DA Davidson lifted their target price on Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Piper Sandler lowered their price target on Sally Beauty from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.00.

Sally Beauty Price Performance

Shares of SBH opened at $10.56 on Wednesday. The stock has a market cap of $1.11 billion, a P/E ratio of 6.73 and a beta of 1.46. The company has a current ratio of 2.20, a quick ratio of 0.45 and a debt-to-equity ratio of 1.97. The stock’s 50-day moving average price is $12.15 and its two-hundred day moving average price is $11.12. Sally Beauty has a 1 year low of $7.21 and a 1 year high of $14.64.

Sally Beauty (NYSE:SBH) last released its quarterly earnings results on Thursday, February 1st. The specialty retailer reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $931.30 million for the quarter, compared to analyst estimates of $929.49 million. Sally Beauty had a return on equity of 37.78% and a net margin of 4.66%. Sally Beauty’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. On average, equities analysts predict that Sally Beauty will post 1.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SBH. Yousif Capital Management LLC boosted its stake in Sally Beauty by 0.8% in the 1st quarter. Yousif Capital Management LLC now owns 103,797 shares of the specialty retailer’s stock valued at $1,622,000 after purchasing an additional 785 shares during the period. Franklin Resources Inc. lifted its position in shares of Sally Beauty by 1.4% during the 4th quarter. Franklin Resources Inc. now owns 58,959 shares of the specialty retailer’s stock valued at $783,000 after acquiring an additional 814 shares during the period. US Bancorp DE lifted its position in shares of Sally Beauty by 44.3% during the 4th quarter. US Bancorp DE now owns 2,885 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 885 shares during the period. Ballentine Partners LLC raised its holdings in shares of Sally Beauty by 9.8% during the 4th quarter. Ballentine Partners LLC now owns 11,716 shares of the specialty retailer’s stock worth $156,000 after buying an additional 1,043 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Sally Beauty by 18.3% during the 1st quarter. Royal Bank of Canada now owns 7,037 shares of the specialty retailer’s stock worth $110,000 after buying an additional 1,091 shares in 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.