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

StockNews.com upgraded shares of Sally Beauty (NYSE:SBH) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Several other research firms have also issued reports on SBH. Piper Sandler decreased their price target on shares of Sally Beauty from $14.00 to $13.00 and set an overweight rating on the stock in a research report on Thursday, July 11th. DA Davidson restated a neutral rating and issued a $12.00 price target on shares of Sally Beauty in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Sally Beauty currently has an average rating of Hold and a consensus price target of $11.00.

Sally Beauty Stock Performance

Shares of SBH opened at $13.59 on Monday. The company has a market capitalization of $1.39 billion, a PE ratio of 9.24 and a beta of 1.54. Sally Beauty has a one year low of $7.21 and a one year high of $13.94. The company has a debt-to-equity ratio of 1.69, a current ratio of 2.12 and a quick ratio of 0.40. The company’s fifty day moving average price is $11.83 and its 200 day moving average price is $11.43.

Sally Beauty (NYSE:SBH) last announced its earnings results on Thursday, August 8th. The specialty retailer reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. The firm had revenue of $942.30 million for the quarter, compared to the consensus estimate of $931.77 million. Sally Beauty had a net margin of 3.99% and a return on equity of 31.88%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. As a group, analysts expect that Sally Beauty will post 1.66 earnings per share for the current year.

Institutional Trading of Sally Beauty

Institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP boosted its position in shares of Sally Beauty by 16.8% during the 1st quarter. Wasatch Advisors LP now owns 3,731,016 shares of the specialty retailer’s stock valued at $46,339,000 after acquiring an additional 535,753 shares in the last quarter. Foundry Partners LLC acquired a new stake in shares of Sally Beauty during the 2nd quarter valued at about $535,000. Charles Schwab Investment Management Inc. boosted its position in shares of Sally Beauty by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,242,861 shares of the specialty retailer’s stock valued at $29,785,000 after acquiring an additional 131,603 shares in the last quarter. Lazard Asset Management LLC boosted its position in Sally Beauty by 303.7% in the first quarter. Lazard Asset Management LLC now owns 429,938 shares of the specialty retailer’s stock valued at $5,339,000 after buying an additional 323,438 shares in the last quarter. Finally, Profit Investment Management LLC acquired a new position in Sally Beauty in the first quarter valued at about $1,737,000.

About Sally Beauty

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.