Sally Beauty (NYSE:SBH) Reaches New 52-Week High After Analyst Upgrade

Sally Beauty Holdings, Inc. (NYSE:SBH - Get Free Report)'s share price reached a new 52-week high on Friday after TD Cowen raised their price target on the stock from $13.00 to $14.00. TD Cowen currently has a hold rating on the stock. Sally Beauty traded as high as $14.36 and last traded at $13.58, with a volume of 163091 shares traded. The stock had previously closed at $13.78.

Several other research analysts have also issued reports on the stock. Raymond James upgraded shares of Sally Beauty from an "underperform" rating to a "market perform" rating in a research report on Friday. Morgan Stanley upped their target price on shares of Sally Beauty from $8.00 to $12.00 and gave the stock an "underweight" rating in a research report on Friday. StockNews.com upgraded shares of Sally Beauty from a "hold" rating to a "buy" rating in a research report on Monday, September 16th. Finally, DA Davidson upped their target price on shares of Sally Beauty from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Sally Beauty has a consensus rating of "Hold" and a consensus price target of $13.00.

Institutional Trading of Sally Beauty

Institutional investors have recently added to or reduced their stakes in the business. Foundry Partners LLC purchased a new stake in Sally Beauty during the second quarter valued at about $535,000. Lazard Asset Management LLC boosted its holdings in shares of Sally Beauty by 303.7% during the first quarter. Lazard Asset Management LLC now owns 429,938 shares of the specialty retailer's stock worth $5,339,000 after purchasing an additional 323,438 shares during the period. Maverick Capital Ltd. boosted its holdings in shares of Sally Beauty by 141.3% during the second quarter. Maverick Capital Ltd. now owns 262,481 shares of the specialty retailer's stock worth $2,816,000 after purchasing an additional 153,707 shares during the period. Wolverine Asset Management LLC boosted its holdings in shares of Sally Beauty by 120.7% during the second quarter. Wolverine Asset Management LLC now owns 100,567 shares of the specialty retailer's stock worth $1,079,000 after purchasing an additional 55,000 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Sally Beauty by 9.1% during the first quarter. Sei Investments Co. now owns 196,569 shares of the specialty retailer's stock worth $2,441,000 after purchasing an additional 16,314 shares during the period.

Sally Beauty Trading Down 2.7 %

The company has a quick ratio of 0.40, a current ratio of 2.12 and a debt-to-equity ratio of 1.69. The stock's fifty day moving average price is $12.96 and its two-hundred day moving average price is $11.87. The company has a market capitalization of $1.38 billion, a PE ratio of 9.79 and a beta of 1.53.

Sally Beauty Company Profile

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.