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 note published on Friday morning.

A number of other analysts have also issued reports on SBH. TD Cowen reduced their target price on Sally Beauty from $13.00 to $11.00 and set a hold rating for the company in a report on Wednesday, April 17th. Piper Sandler reduced their target price on Sally Beauty from $14.00 to $13.00 and set an overweight rating for the company in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $11.25.

Sally Beauty Price Performance

Shares of NYSE:SBH traded down $0.12 on Friday, reaching $10.18. 2,029,117 shares of the company traded hands, compared to its average volume of 1,354,857. Sally Beauty has a fifty-two week low of $7.21 and a fifty-two week high of $13.91. The company’s 50 day moving average is $10.89 and its 200-day moving average is $11.49. The stock has a market capitalization of $1.05 billion, a PE ratio of 6.93 and a beta of 1.54. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.99 and a quick ratio of 0.37.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings data on Thursday, August 8th. The specialty retailer reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $942.30 million during the quarter, compared to the consensus estimate of $931.77 million. Sally Beauty had a return on equity of 34.23% and a net margin of 4.36%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. As a group, analysts anticipate that Sally Beauty will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sally Beauty

A number of hedge funds have recently modified their holdings of SBH. CWM LLC increased its stake in shares of Sally Beauty by 107.9% in the fourth quarter. CWM LLC now owns 2,700 shares of the specialty retailer’s stock worth $36,000 after acquiring an additional 1,401 shares during the last quarter. Quadrant Capital Group LLC increased its position in Sally Beauty by 168.6% during the fourth quarter. Quadrant Capital Group LLC now owns 4,507 shares of the specialty retailer’s stock worth $60,000 after buying an additional 2,829 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Sally Beauty during the first quarter worth $64,000. Quest Partners LLC increased its position in Sally Beauty by 16,095.6% during the second quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer’s stock worth $78,000 after buying an additional 7,243 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Sally Beauty during the second quarter worth $117,000.

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.