Sally Beauty (NYSE:SBH) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Sally Beauty (NYSE:SBH) had its target price boosted by stock analysts at Morgan Stanley from $8.00 to $12.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the specialty retailer’s stock. Morgan Stanley’s price target points to a potential downside of 10.51% from the company’s previous close.

A number of other research analysts have also commented on the stock. StockNews.com upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. DA Davidson restated a “neutral” rating and issued a $12.00 price target on shares of Sally Beauty in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.00.

Sally Beauty Stock Performance

Shares of Sally Beauty stock opened at $13.41 on Friday. The firm’s fifty day simple moving average is $12.96 and its 200-day simple moving average is $11.87. Sally Beauty has a 12 month low of $8.59 and a 12 month high of $14.36. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 9.31 and a beta of 1.53. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.20 and a quick ratio of 0.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hancock Whitney Corp grew its stake in shares of Sally Beauty by 1.9% in the third quarter. Hancock Whitney Corp now owns 40,661 shares of the specialty retailer’s stock valued at $552,000 after buying an additional 773 shares in the last quarter. Diversified Trust Co grew its position in shares of Sally Beauty by 2.7% during the 2nd quarter. Diversified Trust Co now owns 33,948 shares of the specialty retailer’s stock valued at $364,000 after buying an additional 898 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Sally Beauty by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 51,196 shares of the specialty retailer’s stock worth $549,000 after acquiring an additional 1,395 shares during the period. ProShare Advisors LLC lifted its holdings in Sally Beauty by 7.1% in the first quarter. ProShare Advisors LLC now owns 21,589 shares of the specialty retailer’s stock worth $268,000 after acquiring an additional 1,426 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its holdings in shares of Sally Beauty by 19.9% during the second quarter. Evergreen Capital Management LLC now owns 13,070 shares of the specialty retailer’s stock valued at $140,000 after purchasing an additional 2,169 shares during the last quarter.

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.