Sally Beauty (NYSE:SBH) Earns Buy Rating from Analysts at Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group started coverage on shares of Sally Beauty (NYSE:SBH) in a report released on Thursday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $14.00 price target on the specialty retailer’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 27.04% from the company’s previous close.

A number of other research firms also recently issued reports on SBH. StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. TD Cowen upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $16.00 in a report on Monday, November 25th. Raymond James upgraded shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday, November 15th. DA Davidson upped their price target on Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Morgan Stanley boosted their target price on Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.60.

Sally Beauty Price Performance

Shares of NYSE SBH opened at $11.02 on Thursday. Sally Beauty has a twelve month low of $9.06 and a twelve month high of $14.79. The firm has a market capitalization of $1.12 billion, a P/E ratio of 7.65 and a beta of 1.56. The company has a quick ratio of 0.45, a current ratio of 2.20 and a debt-to-equity ratio of 1.56. The stock’s 50-day simple moving average is $12.28 and its two-hundred day simple moving average is $12.22.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings data on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Sally Beauty had a net margin of 4.13% and a return on equity of 31.37%. The company had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $935.88 million. During the same quarter in the prior year, the company earned $0.42 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. As a group, equities analysts anticipate that Sally Beauty will post 1.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Kim Mcintosh sold 4,300 shares of Sally Beauty stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.53, for a total value of $62,479.00. Following the completion of the sale, the chief accounting officer now directly owns 16,685 shares in the company, valued at $242,433.05. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott C. Sherman sold 13,500 shares of the 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 approximately $614,825.19. This trade represents a 24.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.56% of the company’s stock.

Hedge Funds Weigh In On Sally Beauty

A number of institutional investors and hedge funds have recently modified their holdings of SBH. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Sally Beauty in the third quarter valued at about $771,000. Barclays PLC increased its position in shares of Sally Beauty by 36.6% during the 3rd quarter. Barclays PLC now owns 212,159 shares of the specialty retailer’s stock valued at $2,878,000 after purchasing an additional 56,879 shares during the last quarter. Maverick Capital Ltd. lifted its stake in shares of Sally Beauty by 141.3% in the 2nd 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. FMR LLC boosted its holdings in shares of Sally Beauty by 2.6% in the third quarter. FMR LLC now owns 15,396,347 shares of the specialty retailer’s stock worth $208,928,000 after buying an additional 387,736 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Sally Beauty by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,546,108 shares of the specialty retailer’s stock valued at $34,551,000 after buying an additional 80,712 shares during the period.

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.