TD Cowen Lowers Sally Beauty (NYSE:SBH) Price Target to $11.00

Sally Beauty (NYSE:SBH - Free Report) had its price target cut by TD Cowen from $13.00 to $11.00 in a report issued on Wednesday, Benzinga reports. They currently have a hold rating on the specialty retailer's stock.

Several other brokerages also recently weighed in on SBH. DA Davidson upped their target price on Sally Beauty from $12.00 to $13.00 and gave the stock a neutral rating in a research note on Wednesday, February 7th. Piper Sandler reduced their target price on Sally Beauty from $17.00 to $16.00 and set an overweight rating for the company in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $12.00.

Sally Beauty Stock Performance

NYSE:SBH traded down $0.04 during trading hours on Wednesday, reaching $10.31. The company had a trading volume of 1,311,229 shares, compared to its average volume of 1,465,227. Sally Beauty has a 1-year low of $7.21 and a 1-year high of $14.64. The firm has a market cap of $1.08 billion, a PE ratio of 6.57 and a beta of 1.46. The business's 50 day moving average price is $12.25 and its 200-day moving average price is $11.13. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.20 and a quick ratio of 0.45.

Sally Beauty (NYSE:SBH - Get Free Report) last announced its earnings results on Thursday, February 1st. The specialty retailer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. The business had revenue of $931.30 million during the quarter, compared to the consensus estimate of $929.49 million. Sally Beauty had a return on equity of 37.78% and a net margin of 4.66%. The business's quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. Research analysts forecast that Sally Beauty will post 1.87 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP purchased a new stake in Sally Beauty in the 4th quarter valued at $42,433,000. Victory Capital Management Inc. grew its holdings in Sally Beauty by 8,891.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,804,102 shares of the specialty retailer's stock valued at $37,238,000 after buying an additional 2,772,915 shares in the last quarter. Schroder Investment Management Group grew its holdings in Sally Beauty by 53.6% in the 4th quarter. Schroder Investment Management Group now owns 5,532,978 shares of the specialty retailer's stock valued at $73,478,000 after buying an additional 1,931,188 shares in the last quarter. Balyasny Asset Management LLC grew its holdings in Sally Beauty by 1,747.0% in the 3rd quarter. Balyasny Asset Management LLC now owns 1,857,271 shares of the specialty retailer's stock valued at $23,402,000 after buying an additional 1,756,714 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its holdings in Sally Beauty by 66.2% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 3,988,147 shares of the specialty retailer's stock valued at $33,421,000 after buying an additional 1,588,147 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.