Sally Beauty (NYSE:SBH) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Sally Beauty Holdings, Inc. (NYSE:SBH) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.65 and traded as high as $13.71. Sally Beauty shares last traded at $13.40, with a volume of 2,112,291 shares changing hands.

Analyst Upgrades and Downgrades

SBH has been the topic of a number of research reports. DA Davidson restated a “neutral” rating and issued a $12.00 price target on shares of Sally Beauty in a report on Tuesday, August 13th. Piper Sandler dropped their target price on Sally Beauty from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, StockNews.com raised shares of Sally Beauty from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.00.

Sally Beauty Price Performance

The company has a market cap of $1.38 billion, a P/E ratio of 9.85 and a beta of 1.53. The company has a fifty day moving average price of $12.91 and a two-hundred day moving average price of $11.68. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.40 and a current ratio of 2.12.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings results on Thursday, August 8th. The specialty retailer reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $942.30 million during the quarter, compared to analysts’ expectations of $931.77 million. Sally Beauty had a return on equity of 31.88% and a net margin of 3.99%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. On average, sell-side analysts anticipate that Sally Beauty Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Institutional Trading of Sally Beauty

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBH. DekaBank Deutsche Girozentrale acquired a new position in shares of Sally Beauty during the 1st quarter worth about $64,000. nVerses Capital LLC bought a new position in Sally Beauty during the third quarter worth about $94,000. Quest Partners LLC increased its position in Sally Beauty by 16,095.6% during the second quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer’s stock worth $78,000 after buying an additional 7,243 shares during the last quarter. Algert Global LLC bought a new stake in Sally Beauty in the second quarter valued at approximately $113,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Sally Beauty in the second quarter valued at approximately $117,000.

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.