Sally Beauty (NYSE:SBH) Upgraded to “Buy” at TD Cowen

Sally Beauty (NYSE:SBH) was upgraded by analysts at TD Cowen from a “hold” rating to a “buy” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage presently has a $16.00 price objective on the specialty retailer’s stock, up from their prior price objective of $14.00. TD Cowen’s target price indicates a potential upside of 23.36% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Raymond James raised Sally Beauty from an “underperform” rating to a “market perform” rating in a research note on Friday, November 15th. Morgan Stanley upped their price objective on shares of Sally Beauty from $8.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. DA Davidson increased their target price on shares of Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, StockNews.com upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.50.

Sally Beauty Stock Performance

Shares of SBH stock opened at $12.97 on Monday. The company has a market capitalization of $1.32 billion, a PE ratio of 9.01 and a beta of 1.53. Sally Beauty has a 52-week low of $9.06 and a 52-week high of $14.36. The business’s fifty day moving average is $13.05 and its 200 day moving average is $11.97. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.45 and a current ratio of 2.20.

Sally Beauty (NYSE:SBH) last released its quarterly earnings results on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $935.88 million. Sally Beauty had a return on equity of 31.37% and a net margin of 4.13%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. On average, equities research analysts anticipate that Sally Beauty will post 1.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SBH. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 43,016 shares during the last quarter. Barclays PLC boosted its holdings in Sally Beauty by 36.6% in the third quarter. Barclays PLC now owns 212,159 shares of the specialty retailer’s stock worth $2,878,000 after acquiring an additional 56,879 shares in the last quarter. Quarry LP grew its stake in shares of Sally Beauty by 369.3% in the third quarter. Quarry LP now owns 2,980 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 2,345 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Sally Beauty during the third quarter valued at $64,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Sally Beauty in the 3rd quarter worth about $1,080,000.

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.