Sally Beauty (NYSE:SBH) Stock Price Up 3.9% – Should You Buy?

Shares of Sally Beauty Holdings, Inc. (NYSE:SBH) shot up 3.9% during mid-day trading on Monday . The company traded as high as $9.76 and last traded at $9.68. 1,382,137 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 1,574,475 shares. The stock had previously closed at $9.31.

Analysts Set New Price Targets

Several analysts have commented on the stock. Canaccord Genuity Group began coverage on shares of Sally Beauty in a report on Thursday, January 16th. They issued a “buy” rating and a $14.00 price objective for the company. Raymond James upgraded Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday, November 15th. Morgan Stanley dropped their target price on shares of Sally Beauty from $12.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. StockNews.com raised shares of Sally Beauty from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Sally Beauty presently has a consensus rating of “Hold” and an average price target of $12.70.

Sally Beauty Price Performance

The firm has a 50-day moving average of $10.19 and a 200 day moving average of $11.94. The company has a market capitalization of $971.11 million, a PE ratio of 5.70 and a beta of 1.54. 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 (NYSE:SBH) last announced its quarterly 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 firm had revenue of $937.90 million during the quarter, compared to analyst estimates of $941.44 million. As a group, research analysts anticipate that Sally Beauty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sally Beauty

A number of institutional investors and hedge funds have recently modified their holdings of SBH. Hancock Whitney Corp boosted 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 purchasing an additional 773 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Sally Beauty by 5.9% in the fourth quarter. Corient Private Wealth LLC now owns 19,181 shares of the specialty retailer’s stock worth $200,000 after buying an additional 1,069 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Sally Beauty by 8.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,395 shares of the specialty retailer’s stock valued at $140,000 after buying an additional 1,090 shares during the period. Federated Hermes Inc. increased its holdings in Sally Beauty by 119.1% during the fourth 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sally Beauty by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,569 shares of the specialty retailer’s stock worth $612,000 after acquiring an additional 2,137 shares during the period.

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.