Sally Beauty (NYSE:SBH) Cut to “Hold” at StockNews.com

Sally Beauty (NYSE:SBH) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

A number of other analysts also recently weighed in on SBH. Canaccord Genuity Group assumed coverage on Sally Beauty in a report on Thursday, January 16th. They issued a “buy” rating and a $14.00 price objective for the company. TD Cowen upgraded Sally Beauty from a “hold” rating to a “buy” rating and increased their price objective for the company from $14.00 to $16.00 in a report on Monday, November 25th. Morgan Stanley decreased their price objective on Sally Beauty from $12.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. DA Davidson increased their price objective on Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, Raymond James upgraded Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sally Beauty presently has an average rating of “Hold” and an average target price of $13.20.

Sally Beauty Price Performance

Shares of NYSE:SBH traded up $0.10 during trading on Tuesday, hitting $9.67. 2,442,731 shares of the company were exchanged, compared to its average volume of 2,141,660. The business’s 50 day moving average is $11.28 and its 200-day moving average is $12.19. The company has a market capitalization of $984.67 million, a P/E ratio of 6.71 and a beta of 1.55. The company has a quick ratio of 0.45, a current ratio of 2.20 and a debt-to-equity ratio of 1.56. Sally Beauty has a 1-year low of $9.06 and a 1-year high of $14.79.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings results on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $935.00 million during the quarter, compared to the consensus estimate of $935.88 million. Sally Beauty had a net margin of 4.13% and a return on equity of 31.37%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. Equities analysts forecast that Sally Beauty will post 1.84 earnings per share for the current year.

Insider Buying and Selling at Sally Beauty

In related news, CAO Kim Mcintosh sold 4,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.53, for a total value of $62,479.00. Following the transaction, the chief accounting officer now owns 16,685 shares of the company’s stock, valued at approximately $242,433.05. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $195,615.00. Following the completion of the transaction, 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. Insiders own 1.56% of the company’s stock.

Institutional Investors Weigh In On Sally Beauty

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hancock Whitney Corp lifted its position in shares of Sally Beauty by 1.9% during the 3rd quarter. Hancock Whitney Corp now owns 40,661 shares of the specialty retailer’s stock worth $552,000 after buying an additional 773 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Sally Beauty by 5.9% during the 4th 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 in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Sally Beauty by 8.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,395 shares of the specialty retailer’s stock worth $140,000 after buying an additional 1,090 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Sally Beauty by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,196 shares of the specialty retailer’s stock worth $549,000 after buying an additional 1,395 shares in the last quarter. Finally, 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 worth $40,000 after purchasing an additional 2,345 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.