Sally Beauty (NYSE:SBH) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Sally Beauty (NYSE:SBH - Free Report) from a hold rating to a buy rating in a research note released on Wednesday.

SBH has been the topic of several other reports. Morgan Stanley reduced their price objective on Sally Beauty from $12.00 to $10.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 21st. DA Davidson lowered their price objective on shares of Sally Beauty from $13.00 to $10.50 and set a "neutral" rating for the company in a research report on Tuesday. TD Cowen raised shares of Sally Beauty from a "hold" rating to a "buy" rating and raised their target price for the stock from $14.00 to $16.00 in a report on Monday, November 25th. Raymond James raised shares of Sally Beauty from an "underperform" rating to a "market perform" rating in a report on Friday, November 15th. Finally, Canaccord Genuity Group started coverage on shares of Sally Beauty in a report on Thursday, January 16th. They issued a "buy" rating and a $14.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $12.70.

Sally Beauty Trading Down 4.1 %

SBH stock traded down $0.39 during midday trading on Wednesday, reaching $8.94. 2,773,086 shares of the company's stock traded hands, compared to its average volume of 2,455,717. The company has a market capitalization of $910.96 million, a P/E ratio of 5.35 and a beta of 1.55. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.27 and a quick ratio of 0.44. Sally Beauty has a fifty-two week low of $8.88 and a fifty-two week high of $14.79. The business has a 50-day moving average price of $10.77 and a two-hundred day moving average price of $12.10.

Sally Beauty (NYSE:SBH - Get Free Report) last posted its earnings results on Thursday, February 13th. The specialty retailer reported $0.43 EPS for the quarter, hitting analysts' consensus estimates of $0.43. Sally Beauty had a net margin of 4.73% and a return on equity of 30.35%. The business had revenue of $937.90 million for the quarter, compared to analysts' expectations of $941.44 million. Equities research analysts forecast that Sally Beauty will post 1.81 EPS for the current fiscal year.

Insider Activity at Sally Beauty

In related news, insider Scott C. Sherman sold 13,500 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.49, for a total transaction of $195,615.00. Following the transaction, the insider now owns 42,431 shares in the company, valued at $614,825.19. This trade represents a 24.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Kim Mcintosh sold 4,300 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.53, for a total transaction of $62,479.00. Following the transaction, the chief accounting officer now owns 16,685 shares in the company, valued at $242,433.05. This represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.56% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Hancock Whitney Corp grew its position in Sally Beauty by 1.9% in the third quarter. Hancock Whitney Corp now owns 40,661 shares of the specialty retailer's stock worth $552,000 after buying an additional 773 shares during the last quarter. Corient Private Wealth LLC grew its position in Sally Beauty by 5.9% during the 4th quarter. Corient Private Wealth LLC now owns 19,181 shares of the specialty retailer's stock worth $200,000 after purchasing an additional 1,069 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Sally Beauty by 8.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,395 shares of the specialty retailer's stock worth $140,000 after purchasing an additional 1,090 shares in the last quarter. Federated Hermes Inc. grew its position in Sally Beauty by 119.1% during the 4th quarter. Federated Hermes Inc. now owns 3,702 shares of the specialty retailer's stock worth $39,000 after purchasing an additional 2,012 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sally Beauty by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,569 shares of the specialty retailer's stock worth $612,000 after purchasing an additional 2,137 shares in the last quarter.

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.