Sally Beauty (NYSE:SBH) Price Target Raised to $15.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group raised its price target for Sally Beauty from $14.00 to $15.00, suggesting a potential upside of 24.12% from the stock's previous close.
• Wall Street Zen downgraded Sally Beauty's rating from "buy" to "hold," contributing to a mixed analyst sentiment with a consensus rating of "Hold."
• Sally Beauty reported $0.51 EPS for the quarter, exceeding expectations, but noted a decrease in revenue of 1% compared to the same quarter last year.

Sally Beauty (NYSE:SBH - Get Free Report) had its target price increased by equities researchers at Canaccord Genuity Group from $14.00 to $15.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the specialty retailer's stock. Canaccord Genuity Group's price objective would suggest a potential upside of 24.12% from the stock's previous close.

Separately, Wall Street Zen lowered shares of Sally Beauty from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $12.88.

Sally Beauty Price Performance

NYSE SBH traded up $0.43 during trading hours on Wednesday, reaching $12.09. The company's stock had a trading volume of 1,411,213 shares, compared to its average volume of 2,117,729. The stock has a market cap of $1.22 billion, a PE ratio of 6.77 and a beta of 1.30. Sally Beauty has a fifty-two week low of $7.54 and a fifty-two week high of $14.79. The company's 50-day moving average is $9.47 and its two-hundred day moving average is $9.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.44 and a current ratio of 2.32.

Sally Beauty (NYSE:SBH - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.09. Sally Beauty had a net margin of 5.03% and a return on equity of 29.48%. The company had revenue of $933.31 million for the quarter, compared to analysts' expectations of $928.78 million. During the same period last year, the company earned $0.45 EPS. The firm's revenue for the quarter was down 1.0% compared to the same quarter last year. Analysts forecast that Sally Beauty will post 1.81 EPS for the current year.

Institutional Trading of Sally Beauty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Savant Capital LLC purchased a new position in Sally Beauty during the 2nd quarter valued at about $115,000. Access Investment Management LLC acquired a new position in shares of Sally Beauty during the second quarter worth approximately $5,207,000. Bank of Montreal Can lifted its holdings in shares of Sally Beauty by 10.8% during the second quarter. Bank of Montreal Can now owns 21,461 shares of the specialty retailer's stock worth $193,000 after buying an additional 2,093 shares during the last quarter. Lightrock Netherlands B.V. raised its stake in shares of Sally Beauty by 31.4% in the second quarter. Lightrock Netherlands B.V. now owns 1,943,202 shares of the specialty retailer's stock valued at $17,994,000 after purchasing an additional 463,895 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Sally Beauty by 75.8% in the second quarter. Teacher Retirement System of Texas now owns 364,504 shares of the specialty retailer's stock valued at $3,375,000 after purchasing an additional 157,115 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.

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