StockNews.com lowered shares of Sally Beauty (NYSE:SBH – Get Rating) from a buy rating to a hold rating in a research report report published on Tuesday.
Several other analysts have also recently weighed in on the stock. DA Davidson decreased their price objective on shares of Sally Beauty from $14.50 to $11.50 and set a neutral rating on the stock in a research note on Monday, November 14th. Morgan Stanley decreased their price objective on shares of Sally Beauty to $10.00 in a research note on Wednesday, November 16th. Finally, Piper Sandler initiated coverage on shares of Sally Beauty in a research note on Thursday, December 15th. They set an overweight rating and a $15.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Sally Beauty currently has a consensus rating of Hold and a consensus price target of $14.10.
Get Sally Beauty alerts:Sally Beauty Stock Performance
NYSE SBH opened at $14.72 on Tuesday. The stock has a market cap of $1.58 billion, a P/E ratio of 8.92 and a beta of 1.20. The company's 50-day simple moving average is $12.41 and its 200 day simple moving average is $13.11. Sally Beauty has a twelve month low of $10.95 and a twelve month high of $19.08. The company has a quick ratio of 0.29, a current ratio of 1.70 and a debt-to-equity ratio of 3.69.
Sally Beauty (NYSE:SBH – Get Rating) last issued its quarterly earnings data on Thursday, November 10th. The specialty retailer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $962.46 million for the quarter, compared to analysts' expectations of $943.88 million. Sally Beauty had a net margin of 4.81% and a return on equity of 83.29%. As a group, research analysts forecast that Sally Beauty will post 1.88 earnings per share for the current fiscal year.Hedge Funds Weigh In On Sally Beauty
Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in Sally Beauty by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 1,135,367 shares of the specialty retailer's stock valued at $14,304,000 after buying an additional 19,749 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in Sally Beauty in the third quarter valued at approximately $426,000. Balyasny Asset Management LLC lifted its holdings in Sally Beauty by 1,747.0% in the third quarter. Balyasny Asset Management LLC now owns 1,857,271 shares of the specialty retailer's stock valued at $23,402,000 after buying an additional 1,756,714 shares during the period. BNP Paribas Arbitrage SNC acquired a new position in Sally Beauty in the third quarter valued at approximately $524,000. Finally, Alliancebernstein L.P. lifted its holdings in Sally Beauty by 7.1% in the third quarter. Alliancebernstein L.P. now owns 8,013,130 shares of the specialty retailer's stock valued at $100,965,000 after buying an additional 528,068 shares during the period.
Sally Beauty Company Profile
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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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