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Sally Beauty (NYSE:SBH) Rating Increased to Buy at TD Cowen

Sally Beauty logo with Retail/Wholesale background

Sally Beauty (NYSE:SBH - Get Free Report) was upgraded by equities researchers at TD Cowen from a "hold" rating to a "buy" rating in a report issued on Monday, Marketbeat reports. The brokerage currently has a $16.00 target price on the specialty retailer's stock, up from their previous target price of $14.00. TD Cowen's price objective indicates a potential upside of 13.07% from the company's current price.

Several other analysts have also issued reports on SBH. StockNews.com upgraded shares of Sally Beauty from a "hold" rating to a "buy" rating in a research report on Saturday. Morgan Stanley upped their price objective on Sally Beauty from $8.00 to $12.00 and gave the stock an "underweight" rating in a research note on Friday, November 15th. Raymond James raised Sally Beauty from an "underperform" rating to a "market perform" rating in a report on Friday, November 15th. Finally, DA Davidson raised their price objective on Sally Beauty from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $13.50.

Read Our Latest Stock Report on SBH

Sally Beauty Stock Performance

Shares of NYSE SBH traded up $1.18 during trading on Monday, reaching $14.15. 4,189,936 shares of the company traded hands, compared to its average volume of 1,389,477. The firm has a 50 day simple moving average of $13.05 and a 200-day simple moving average of $11.97. Sally Beauty has a 52-week low of $9.06 and a 52-week high of $14.64. The stock has a market capitalization of $1.44 billion, a PE ratio of 9.01 and a beta of 1.53. The company has a quick ratio of 0.45, a current ratio of 2.20 and a debt-to-equity ratio of 1.56.

Sally Beauty (NYSE:SBH - Get Free Report) last released its quarterly earnings results on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Sally Beauty had a return on equity of 31.37% and a net margin of 4.13%. The firm had revenue of $935.00 million for the quarter, compared to analysts' expectations of $935.88 million. During the same period in the prior year, the firm earned $0.42 EPS. The company's revenue was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that Sally Beauty will post 1.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its holdings in shares of Sally Beauty by 369.3% in the third quarter. Quarry LP now owns 2,980 shares of the specialty retailer's stock worth $40,000 after purchasing an additional 2,345 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Sally Beauty in the first quarter worth about $64,000. Point72 DIFC Ltd purchased a new stake in Sally Beauty during the third quarter valued at approximately $64,000. Quest Partners LLC lifted its stake in shares of Sally Beauty by 16,095.6% in the 2nd quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer's stock valued at $78,000 after purchasing an additional 7,243 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Sally Beauty in the 3rd quarter worth approximately $94,000.

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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Analyst Recommendations for Sally Beauty (NYSE:SBH)

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