Canaccord Genuity Group Issues Positive Forecast for Sally Beauty (NYSE:SBH) Stock Price

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 - Get Free Report) had its price objective hoisted by analysts at Canaccord Genuity Group from $15.00 to $19.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the specialty retailer's stock. Canaccord Genuity Group's price objective suggests a potential upside of 26.88% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. TD Cowen increased their price objective on Sally Beauty from $13.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Wall Street Zen raised Sally Beauty from a "hold" rating to a "buy" rating in a report on Saturday. Cowen reaffirmed a "buy" rating on shares of Sally Beauty in a report on Thursday, September 4th. Finally, Zacks Research raised 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 assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.88.

Sally Beauty Trading Down 1.8%

NYSE SBH opened at $14.98 on Monday. The company has a market cap of $1.48 billion, a PE ratio of 8.05 and a beta of 1.38. The company has a current ratio of 2.41, a quick ratio of 0.49 and a debt-to-equity ratio of 1.16. Sally Beauty has a 12 month low of $7.54 and a 12 month high of $15.31. The stock has a 50 day moving average of $12.02 and a 200-day moving average of $9.89.

Sally Beauty (NYSE:SBH - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The specialty retailer reported $0.51 EPS for the quarter, beating the consensus estimate of $0.42 by $0.09. The company had revenue of $933.31 million during the quarter, compared to the consensus estimate of $928.78 million. Sally Beauty had a return on equity of 28.11% and a net margin of 5.26%.The firm's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. Sally Beauty has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Sally Beauty will post 1.81 EPS for the current fiscal year.

Insider Transactions at Sally Beauty

In other news, Director Max R. Rangel bought 3,500 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was bought at an average price of $14.07 per share, with a total value of $49,245.00. Following the completion of the acquisition, the director owned 3,500 shares of the company's stock, valued at $49,245. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Denise Paulonis bought 4,500 shares of the company's stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $11.74 per share, with a total value of $52,830.00. Following the acquisition, the chief executive officer directly owned 366,865 shares of the company's stock, valued at approximately $4,306,995.10. This represents a 1.24% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 10,500 shares of company stock valued at $132,125. 1.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sally Beauty

A number of hedge funds and other institutional investors have recently modified their holdings of SBH. Osaic Holdings Inc. increased its position in shares of Sally Beauty by 1,365.0% in the second quarter. Osaic Holdings Inc. now owns 2,930 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 2,730 shares during the period. Golden State Wealth Management LLC increased its position in shares of Sally Beauty by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 3,470 shares of the specialty retailer's stock worth $31,000 after purchasing an additional 1,735 shares during the period. Raymond James Financial Inc. bought a new position in shares of Sally Beauty in the second quarter worth $34,000. Parallel Advisors LLC increased its position in shares of Sally Beauty by 536.4% in the first quarter. Parallel Advisors LLC now owns 3,920 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 3,304 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Sally Beauty by 820.3% in the first quarter. GAMMA Investing LLC now owns 4,712 shares of the specialty retailer's stock worth $43,000 after purchasing an additional 4,200 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.