Shares of Sally Beauty Holdings, Inc. (NYSE:SBH – Get Rating) rose 10.9% during mid-day trading on Wednesday . The company traded as high as $14.21 and last traded at $14.20. Approximately 40,338 shares were traded during trading, a decline of 97% from the average daily volume of 1,497,032 shares. The stock had previously closed at $12.81.

Analyst Upgrades and Downgrades

Several research firms recently commented on SBH. Morgan Stanley dropped their price objective on Sally Beauty to $10.00 in a research note on Wednesday, November 16th. StockNews.com cut Sally Beauty from a "buy" rating to a "hold" rating in a research note on Monday. Piper Sandler started coverage on shares of Sally Beauty in a research report on Thursday, December 15th. They set an "overweight" rating and a $15.00 price target for the company. Finally, DA Davidson dropped their target price on shares of Sally Beauty from $14.50 to $11.50 and set a "neutral" rating for the company in a report on Monday, November 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $14.10.

Sally Beauty Stock Performance

The company has a market capitalization of $1.52 billion, a PE ratio of 8.41 and a beta of 1.20. The company has a current ratio of 1.70, a quick ratio of 0.29 and a debt-to-equity ratio of 3.69. The firm's 50-day simple moving average is $12.15 and its 200-day simple moving average is $13.02.

Institutional Investors Weigh In On Sally Beauty

Several hedge funds have recently modified their holdings of SBH. Royal Bank of Canada lifted its position in shares of Sally Beauty by 143.5% in the 3rd quarter. Royal Bank of Canada now owns 2,187 shares of the specialty retailer's stock worth $28,000 after purchasing an additional 1,289 shares during the period. Assetmark Inc. raised its stake in shares of Sally Beauty by 146.0% during the 2nd quarter. Assetmark Inc. now owns 2,423 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 1,438 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Sally Beauty by 1,882.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,458 shares of the specialty retailer's stock worth $29,000 after acquiring an additional 2,334 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Sally Beauty by 27.1% during the 2nd quarter. Captrust Financial Advisors now owns 6,402 shares of the specialty retailer's stock worth $76,000 after acquiring an additional 1,366 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Sally Beauty by 69.7% during the 3rd quarter. UBS Group AG now owns 6,761 shares of the specialty retailer's stock worth $85,000 after acquiring an additional 2,777 shares in the last quarter.

About Sally Beauty

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Sally Beauty Holdings, Inc operates as a specialty retailer and distributor of professional beauty supplies. The company operates through two segments, Sally Beauty Supply (SBS) and Beauty Systems Group (BSG). The SBS segment offers beauty products, including hair color and care products, styling tools, skin and nail care products, cosmetics, and other beauty products for retail customers and salon professionals through retail stores and digital platforms.

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