Sally Beauty (NYSE:SBH) Reaches New 1-Year High – Here’s What Happened

Sally Beauty Holdings, Inc. (NYSE:SBH) hit a new 52-week high 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 Ratings Changes

SBH has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Sally Beauty from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings cut shares of Sally Beauty from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. Finally, TD Cowen started coverage on shares of Sally Beauty in a research report on Friday, October 30th. They set a “strong-buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

Sally Beauty Trading Down 2.8%

The business has a 50 day simple moving average of $16.70 and a 200-day simple moving average of $15.13. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.57 and a current ratio of 2.37. The stock has a market capitalization of $1.75 billion, a P/E ratio of 9.74 and a beta of 1.09.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings results on Monday, August 3rd. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $938.45 million. During the same period last year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts predict that Sally Beauty Holdings, Inc. will post 2.07 EPS for the current year.

Institutional Investors Weigh In On Sally Beauty

Several hedge funds and other institutional investors have recently bought and sold shares of SBH. Versant Capital Management Inc boosted its holdings in shares of Sally Beauty by 27.2% in the second quarter. Versant Capital Management Inc now owns 5,096 shares of the specialty retailer’s stock worth $72,000 after buying an additional 1,089 shares during the period. Fortitude Family Office LLC increased its position in shares of Sally Beauty by 508.1% in the third quarter. Fortitude Family Office LLC now owns 1,727 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 1,443 shares in the last quarter. Nykredit A S acquired a new stake in shares of Sally Beauty during the second quarter valued at approximately $28,000. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Sally Beauty by 40.1% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 7,739 shares of the specialty retailer’s stock valued at $127,000 after acquiring an additional 2,214 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Sally Beauty by 233.3% during the third quarter. Parallel Advisors LLC now owns 3,713 shares of the specialty retailer’s stock valued at $61,000 after acquiring an additional 2,599 shares during the period.

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.