Sally Beauty (NYSE:SBH) Shares Gap Up – Time to Buy?

Shares of Sally Beauty Holdings, Inc. (NYSE:SBH) gapped up prior to trading on Thursday . The stock had previously closed at $12.53, but opened at $13.35. Sally Beauty shares last traded at $13.19, with a volume of 111,049 shares changing hands.

Analyst Upgrades and Downgrades

SBH has been the topic of several analyst reports. StockNews.com cut shares of Sally Beauty from a “buy” rating to a “hold” rating in a report on Friday. DA Davidson upped their target price on Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday. TD Cowen raised their price objective on shares of Sally Beauty from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Friday. Raymond James raised Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday. Finally, Morgan Stanley increased their price target on shares of Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Sally Beauty has an average rating of “Hold” and an average target price of $13.00.

Sally Beauty Stock Down 2.7 %

The firm has a market capitalization of $1.38 billion, a PE ratio of 9.79 and a beta of 1.53. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.40 and a current ratio of 2.12. The firm’s 50-day moving average is $12.96 and its 200 day moving average is $11.87.

Institutional Investors Weigh In On Sally Beauty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hancock Whitney Corp boosted its stake 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 purchasing an additional 773 shares during the last quarter. Diversified Trust Co grew its stake 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 period. The Manufacturers Life Insurance Company increased 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 last quarter. ProShare Advisors LLC lifted its stake in shares of Sally Beauty by 7.1% in the 1st quarter. ProShare Advisors LLC now owns 21,589 shares of the specialty retailer’s stock valued at $268,000 after purchasing an additional 1,426 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its position in Sally Beauty by 19.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 13,070 shares of the specialty retailer’s stock worth $140,000 after purchasing an additional 2,169 shares in the last quarter.

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.