Sally Beauty (NYSE:SBH) Reaches New 12-Month High - Here's What Happened

Key Points

• Sally Beauty shares hit a 52-week high of $19.20, up from a previous close of $17.90.
• Analyst views are mixed, with a consensus “Moderate Buy” rating and a $17.40 price target—below the stock’s recent trading price.
• In its latest reported quarter, Sally Beauty beat EPS estimates ($0.55 versus $0.53) but narrowly missed revenue expectations; sales rose 0.3% year over year.

Sally Beauty Holdings, Inc. (NYSE:SBH - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday. The company traded as high as $19.20 and last traded at $19.0550, with a volume of 54,719 shares trading hands. The stock had previously closed at $17.90.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SBH shares. Weiss Ratings downgraded shares of Sally Beauty from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday. Wall Street Zen lowered shares of Sally Beauty from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, TD Cowen assumed coverage on shares of Sally Beauty in a report on Friday, October 30th. They issued a "strong-buy" rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.40.

Sally Beauty Price Performance

The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 10.00 and a beta of 1.09. The stock has a fifty day simple moving average of $16.60 and a 200-day simple moving average of $15.10. The company has a current ratio of 2.37, a quick ratio of 0.57 and a debt-to-equity ratio of 0.92.

Sally Beauty (NYSE:SBH - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The specialty retailer reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. Sally Beauty had a return on equity of 24.36% and a net margin of 5.16%. The company had revenue of $935.49 million for the quarter, compared to the consensus estimate of $938.45 million. During the same period in the previous year, the business posted $0.51 EPS. The company's revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts expect that Sally Beauty Holdings, Inc. will post 2.07 EPS for the current year.

Hedge Funds Weigh In On Sally Beauty

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new stake in Sally Beauty during the second quarter worth about $562,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Sally Beauty in the 2nd quarter valued at approximately $1,727,000. Bank of America Corp DE acquired a new position in Sally Beauty in the 2nd quarter valued at approximately $2,115,000. Hsbc Holdings PLC acquired a new position in Sally Beauty in the 1st quarter valued at approximately $2,587,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Sally Beauty in the 2nd quarter worth approximately $1,536,000.

Sally Beauty Company Profile

Sally Beauty Holdings, Inc is a specialty retailer and distributor of professional beauty products. Through its Sally Beauty and CosmoProf businesses, the company serves both individual consumers and salon professionals with products including hair color, hair care, styling products, skin care, nail care, beauty accessories and salon equipment.

Sally Beauty stores primarily target consumers and offer a broad selection of branded and private-label beauty products. CosmoProf serves licensed beauty professionals and salons, providing professional-use products, tools, furnishings and education-related resources.

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