Sally Beauty (NYSE:SBH) Shares Up 3.7% – Here’s What Happened

Sally Beauty Holdings, Inc. (NYSE:SBH)’s share price traded up 3.7% during mid-day trading on Tuesday . The stock traded as high as $10.41 and last traded at $10.37. 881,923 shares traded hands during trading, a decline of 39% from the average session volume of 1,446,878 shares. The stock had previously closed at $10.00.

Analyst Ratings Changes

A number of equities research analysts have commented on SBH shares. StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. DA Davidson lifted their price objective on Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Raymond James raised shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a research note on Friday, November 15th. Morgan Stanley raised their price target on shares of Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a research note on Friday, November 15th. Finally, TD Cowen raised shares of Sally Beauty from a “hold” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $16.00 in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.50.

Sally Beauty Stock Performance

The company’s fifty day moving average price is $12.79 and its two-hundred day moving average price is $12.20. The firm has a market capitalization of $1.07 billion, a PE ratio of 7.28 and a beta of 1.51. 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 announced its quarterly earnings data on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $935.88 million. Sally Beauty had a net margin of 4.13% and a return on equity of 31.37%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 EPS. As a group, equities analysts expect that Sally Beauty Holdings, Inc. will post 1.85 earnings per share for the current year.

Insider Activity

In related news, CAO Kim Mcintosh sold 4,300 shares of Sally Beauty stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.53, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott C. Sherman sold 13,500 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.49, for a total value of $195,615.00. Following the completion of the sale, the insider now directly owns 42,431 shares of the company’s stock, valued at approximately $614,825.19. This represents a 24.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quarry LP lifted its holdings in 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 stake in shares of Sally Beauty in the 3rd quarter worth approximately $64,000. Quest Partners LLC boosted its position in Sally Beauty by 16,095.6% during the 2nd quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer’s stock valued at $78,000 after purchasing an additional 7,243 shares during the period. nVerses Capital LLC bought a new position in Sally Beauty during the 3rd quarter worth $94,000. Finally, Algert Global LLC acquired a new stake in Sally Beauty in the second quarter worth $113,000.

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.