Sally Beauty (NYSE:SBH) Given New $19.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group raised its price target for Sally Beauty from $15.00 to $19.00, indicating a potential upside of 26.88% from the current price and maintaining a "buy" rating on the stock.
• Recent research reports show a positive trend, with TD Cowen and Zacks Research both upgrading their ratings to "buy" and "strong-buy," respectively, highlighting growing confidence in the company's prospects.
• Sally Beauty reported $0.51 EPS for the last quarter, surpassing expectations, while the stock is currently trading around $14.98 with a market cap of $1.48 billion.

Sally Beauty (NYSE:SBH - Free Report) had its price target lifted by Canaccord Genuity Group from $15.00 to $19.00 in a report published on Monday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the specialty retailer's stock.

SBH has been the topic of several other research reports. Wall Street Zen upgraded Sally Beauty from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Cowen reaffirmed a "buy" rating on shares of Sally Beauty in a research report on Thursday, September 4th. TD Cowen increased their price target on Sally Beauty from $13.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. Finally, Zacks Research upgraded Sally Beauty from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $13.88.

Sally Beauty Stock Performance

SBH traded down $0.27 during trading on Monday, hitting $15.30. The company's stock had a trading volume of 593,026 shares, compared to its average volume of 2,150,213. Sally Beauty has a one year low of $7.54 and a one year high of $15.92. The company has a quick ratio of 0.49, a current ratio of 2.41 and a debt-to-equity ratio of 1.16. The firm has a market cap of $1.51 billion, a PE ratio of 8.23 and a beta of 1.38. The business's 50 day simple moving average is $12.45 and its 200-day simple moving average is $10.06.

Sally Beauty (NYSE:SBH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.09. The business had revenue of $933.31 million during the quarter, compared to analyst estimates of $928.78 million. Sally Beauty had a net margin of 5.26% and a return on equity of 28.11%. The company's revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS. Sally Beauty has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Sally Beauty will post 1.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Diana Sue Ferguson bought 2,500 shares of the stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $12.02 per share, with a total value of $30,050.00. Following the purchase, the director directly owned 7,912 shares in the company, valued at $95,102.24. The trade was a 46.19% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Denise Paulonis purchased 4,500 shares of Sally Beauty stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $11.74 per share, with a total value of $52,830.00. Following the transaction, the chief executive officer owned 366,865 shares in the company, valued at approximately $4,306,995.10. The trade was a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 10,500 shares of company stock worth $132,125. Company insiders own 1.56% of the company's stock.

Institutional Trading of Sally Beauty

Institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its stake in shares of Sally Beauty by 2,768.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,220,160 shares of the specialty retailer's stock valued at $11,299,000 after buying an additional 1,177,626 shares in the last quarter. Invenomic Capital Management LP boosted its position in Sally Beauty by 160.3% in the 1st quarter. Invenomic Capital Management LP now owns 1,889,310 shares of the specialty retailer's stock valued at $17,060,000 after buying an additional 1,163,619 shares during the period. Millennium Management LLC raised its position in Sally Beauty by 1,177.7% in the 4th quarter. Millennium Management LLC now owns 1,136,121 shares of the specialty retailer's stock valued at $11,872,000 after purchasing an additional 1,047,199 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Sally Beauty during the first quarter worth approximately $8,600,000. Finally, Ranmore Fund Management Ltd raised its holdings in Sally Beauty by 54.6% in the second quarter. Ranmore Fund Management Ltd now owns 2,196,020 shares of the specialty retailer's stock valued at $20,335,000 after acquiring an additional 776,020 shares in 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.