Sally Beauty (NYSE:SBH) Reaches New 12-Month High – Here’s What Happened

Sally Beauty Holdings, Inc. (NYSE:SBH) hit a new 52-week high during trading on Wednesday. The company traded as high as $19.20 and last traded at $19.0550, with a volume of 54,719 shares trading hands. The stock had previously closed at $17.90.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SBH. TD Cowen started coverage on Sally Beauty in a research report on Friday, October 30th. They issued a “strong-buy” rating for the company. Weiss Ratings lowered shares of Sally Beauty from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Finally, Wall Street Zen cut shares of Sally Beauty from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.40.

Sally Beauty Stock Performance

The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 10.00 and a beta of 1.09. The company has a quick ratio of 0.57, a current ratio of 2.37 and a debt-to-equity ratio of 0.92. The stock’s 50-day simple moving average is $16.60 and its 200 day simple moving average is $15.10.

Sally Beauty (NYSE:SBH) last posted its quarterly earnings data on Monday, August 3rd. The specialty retailer reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. Sally Beauty had a net margin of 5.16% and a return on equity of 24.36%. The company had revenue of $935.49 million during the quarter, compared to analyst estimates of $938.45 million. During the same quarter last year, the business posted $0.51 earnings per share. The company’s revenue was up .3% on a year-over-year basis. Analysts expect that Sally Beauty Holdings, Inc. will post 2.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sally Beauty

Large investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in Sally Beauty by 233.3% during the 3rd quarter. Parallel Advisors LLC now owns 3,713 shares of the specialty retailer’s stock valued at $61,000 after purchasing an additional 2,599 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in Sally Beauty by 40.1% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 7,739 shares of the specialty retailer’s stock worth $127,000 after purchasing an additional 2,214 shares in the last quarter. Access Investment Management LLC grew its holdings in shares of Sally Beauty by 1.3% during the third quarter. Access Investment Management LLC now owns 574,104 shares of the specialty retailer’s stock worth $9,427,000 after purchasing an additional 7,380 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Sally Beauty by 101.9% during the third quarter. Signaturefd LLC now owns 5,802 shares of the specialty retailer’s stock worth $95,000 after purchasing an additional 2,929 shares during the last quarter. Finally, RWC Asset Management LLP acquired a new stake in shares of Sally Beauty in the third quarter valued at $165,000.

Sally Beauty Company Profile

Sally Beauty Holdings, Inc is a specialty retailer and distributor of professional beauty products. Through its Sally Beauty and CosmoProf businesses, the company serves both individual consumers and salon professionals with products including hair color, hair care, styling products, skin care, nail care, beauty accessories and salon equipment.

Sally Beauty stores primarily target consumers and offer a broad selection of branded and private-label beauty products. CosmoProf serves licensed beauty professionals and salons, providing professional-use products, tools, furnishings and education-related resources.