Sally Beauty (NYSE:SBH) Sets New 52-Week Low – Here’s Why

Shares of Sally Beauty Holdings, Inc. (NYSE:SBH) reached a new 52-week low on Wednesday . The stock traded as low as $7.61 and last traded at $7.60, with a volume of 493918 shares traded. The stock had previously closed at $7.95.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SBH. DA Davidson decreased their price objective on shares of Sally Beauty from $13.00 to $10.50 and set a “neutral” rating for the company in a report on Tuesday, February 18th. StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Morgan Stanley cut their target price on shares of Sally Beauty from $12.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group started coverage on shares of Sally Beauty in a research report on Thursday, January 16th. They issued a “buy” rating and a $14.00 price target on the stock. One investment 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.70.

Sally Beauty Stock Up 6.6 %

The stock has a 50-day moving average of $9.22 and a 200-day moving average of $11.30. The company has a quick ratio of 0.44, a current ratio of 2.27 and a debt-to-equity ratio of 1.43. The company has a market cap of $863.86 million, a PE ratio of 5.07 and a beta of 1.35.

Sally Beauty (NYSE:SBH) last released its quarterly earnings results on Thursday, February 13th. The specialty retailer reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $937.90 million for the quarter, compared to the consensus estimate of $941.44 million. Sally Beauty had a return on equity of 30.35% and a net margin of 4.73%. Sell-side analysts predict that Sally Beauty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in shares of Sally Beauty during the third quarter valued at approximately $1,080,000. Point72 DIFC Ltd purchased a new position in shares of Sally Beauty in the third quarter valued at about $64,000. Quarry LP boosted its holdings in shares of Sally Beauty by 369.3% during the third quarter. Quarry LP now owns 2,980 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 2,345 shares during the period. Barclays PLC lifted its holdings in Sally Beauty by 36.6% in the 3rd quarter. Barclays PLC now owns 212,159 shares of the specialty retailer’s stock worth $2,878,000 after buying an additional 56,879 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Sally Beauty by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,415,875 shares of the specialty retailer’s stock valued at $32,790,000 after buying an additional 43,016 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.