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

Sally Beauty Holdings, Inc. (NYSE:SBH)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.79 and last traded at $14.35, with a volume of 738879 shares. The stock had previously closed at $14.22.

Analyst Ratings Changes

Several brokerages have weighed in on SBH. DA Davidson raised their price objective on shares of Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Raymond James raised shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday, November 15th. Morgan Stanley raised their price objective on shares of Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. TD Cowen raised shares of Sally Beauty from a “hold” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $16.00 in a report on Monday. Finally, StockNews.com raised shares of Sally Beauty from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.50.

Sally Beauty Price Performance

The company’s fifty day moving average price is $13.09 and its 200 day moving average price is $12.02. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.45 and a current ratio of 2.20. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.88 and a beta of 1.53.

Sally Beauty (NYSE:SBH) last posted its earnings results on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $935.00 million during the quarter, compared to analyst estimates of $935.88 million. Sally Beauty had a net margin of 4.13% and a return on equity of 31.37%. Sally Beauty’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS. Equities research analysts expect that Sally Beauty Holdings, Inc. will post 1.84 earnings per share for the current year.

Insider Buying and Selling at Sally Beauty

In other news, insider Scott C. Sherman sold 13,500 shares of Sally Beauty stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.49, for a total value of $195,615.00. Following the transaction, the insider now directly owns 42,431 shares of the company’s stock, valued at $614,825.19. This trade represents a 24.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Kim Mcintosh sold 4,300 shares of Sally Beauty stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.53, for a total transaction of $62,479.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,685 shares in the company, valued at approximately $242,433.05. This trade represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBH. Russell Investments Group Ltd. grew its position in Sally Beauty by 51.9% in the first quarter. Russell Investments Group Ltd. now owns 47,181 shares of the specialty retailer’s stock worth $586,000 after acquiring an additional 16,120 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Sally Beauty by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 70,670 shares of the specialty retailer’s stock worth $878,000 after buying an additional 3,862 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of Sally Beauty by 29.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 17,897 shares of the specialty retailer’s stock worth $222,000 after buying an additional 4,117 shares during the last quarter. Hancock Whitney Corp acquired a new stake in shares of Sally Beauty in the first quarter worth $576,000. Finally, Boston Partners acquired a new stake in shares of Sally Beauty in the first quarter worth $617,000.

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.