Sally Beauty (NYSE:SBH) Shares Gap Up – Here’s What Happened

Sally Beauty Holdings, Inc. (NYSE:SBH)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $9.18, but opened at $10.18. Sally Beauty shares last traded at $9.39, with a volume of 542,470 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SBH. Canaccord Genuity Group began coverage on Sally Beauty in a research report on Thursday, January 16th. They set a “buy” rating and a $14.00 target price for the company. Raymond James raised Sally Beauty from an “underperform” rating to a “market perform” rating in a research report on Friday, November 15th. StockNews.com downgraded Sally Beauty from a “buy” rating to a “hold” rating in a research note on Tuesday. TD Cowen upgraded Sally Beauty from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.00 to $16.00 in a research note on Monday, November 25th. Finally, DA Davidson increased 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.20.

Sally Beauty Trading Down 3.4 %

The firm has a 50 day simple moving average of $11.04 and a 200 day simple moving average of $12.14. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.45 and a current ratio of 2.20. The firm has a market cap of $943.51 million, a P/E ratio of 6.43 and a beta of 1.55.

Sally Beauty (NYSE:SBH) last issued its earnings results on Thursday, February 13th. The specialty retailer reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. Sally Beauty had a return on equity of 31.37% and a net margin of 4.13%. On average, equities research analysts predict that Sally Beauty Holdings, Inc. will post 1.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sally Beauty news, CAO Kim Mcintosh sold 4,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.53, for a total value of $62,479.00. Following the sale, the chief accounting officer now owns 16,685 shares of the company’s stock, valued at $242,433.05. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott C. Sherman sold 13,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.49, for a total value of $195,615.00. Following the completion of the sale, the insider now directly owns 42,431 shares in the company, valued at approximately $614,825.19. The trade was a 24.14 % decrease in their position. The disclosure for this sale can be found here. 1.56% of the stock is owned by corporate insiders.

Institutional Trading of Sally Beauty

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP raised its holdings in shares of Sally Beauty by 369.3% in the 3rd quarter. Quarry LP now owns 2,980 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 2,345 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Sally Beauty by 119.1% during the 4th quarter. Federated Hermes Inc. now owns 3,702 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 2,012 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Sally Beauty during the 3rd quarter valued at about $64,000. R Squared Ltd purchased a new position in shares of Sally Beauty during the 4th quarter valued at about $56,000. Finally, KBC Group NV raised its holdings in shares of Sally Beauty by 89.0% during the 4th quarter. KBC Group NV now owns 5,871 shares of the specialty retailer’s stock valued at $61,000 after buying an additional 2,764 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.