Sally Beauty (NYSE:SBH) Hits New 52-Week Low – Here’s What Happened

Sally Beauty Holdings, Inc. (NYSE:SBH)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.52 and last traded at $8.65, with a volume of 3229185 shares changing hands. The stock had previously closed at $8.76.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SBH. DA Davidson reduced their target price on Sally Beauty from $13.00 to $10.50 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. TD Cowen upgraded Sally Beauty from a “hold” rating to a “buy” rating and upped their target price for the company from $14.00 to $16.00 in a report on Monday, November 25th. Morgan Stanley reduced their target price on Sally Beauty from $12.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Raymond James upgraded Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday, November 15th. Finally, Canaccord Genuity Group began coverage on Sally Beauty in a report on Thursday, January 16th. They issued a “buy” rating and a $14.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Sally Beauty has an average rating of “Hold” and a consensus target price of $12.70.

Sally Beauty Price Performance

The stock has a market capitalization of $881.39 million, a P/E ratio of 5.18 and a beta of 1.55. The business has a fifty day simple moving average of $10.36 and a 200-day simple moving average of $12.05. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.44 and a current ratio of 2.27.

Sally Beauty (NYSE:SBH) last issued its earnings results on Thursday, February 13th. The specialty retailer reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. Sally Beauty had a return on equity of 30.35% and a net margin of 4.73%. The company had revenue of $937.90 million for the quarter, compared to analyst estimates of $941.44 million. Sell-side analysts expect that Sally Beauty Holdings, Inc. will post 1.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sally Beauty

A number of institutional investors have recently modified their holdings of the company. Hancock Whitney Corp raised its position in shares of Sally Beauty by 1.9% during the third quarter. Hancock Whitney Corp now owns 40,661 shares of the specialty retailer’s stock worth $552,000 after purchasing an additional 773 shares during the period. Corient Private Wealth LLC raised its position in Sally Beauty by 5.9% in the 4th quarter. Corient Private Wealth LLC now owns 19,181 shares of the specialty retailer’s stock valued at $200,000 after buying an additional 1,069 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Sally Beauty by 8.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,395 shares of the specialty retailer’s stock valued at $140,000 after buying an additional 1,090 shares during the last quarter. Federated Hermes Inc. raised its position in Sally Beauty by 119.1% in the 4th quarter. Federated Hermes Inc. now owns 3,702 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 2,012 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sally Beauty by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,569 shares of the specialty retailer’s stock valued at $612,000 after buying an additional 2,137 shares during 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.