Sally Beauty (NYSE:SBH) Reaches New 52-Week High – Here’s Why

Shares of Sally Beauty Holdings, Inc. (NYSE:SBH) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $14.79 and last traded at $14.35, with a volume of 738879 shares changing hands. The stock had previously closed at $14.22.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SBH shares. StockNews.com upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating in a research note on Saturday. DA Davidson increased their price objective on shares of Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. TD Cowen upgraded shares of Sally Beauty from a “hold” rating to a “buy” rating and increased their price objective for the company from $14.00 to $16.00 in a research note on Monday. Morgan Stanley upped their target price on shares of Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. Finally, Raymond James raised shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Sally Beauty has an average rating of “Hold” and a consensus target price of $13.50.

Sally Beauty Trading Up 0.2 %

The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.45 and a current ratio of 2.20. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.88 and a beta of 1.53. The business’s 50-day simple moving average is $13.09 and its 200-day simple moving average is $12.02.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings results on Thursday, November 14th. The specialty retailer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $935.00 million for the quarter, compared to the consensus estimate of $935.88 million. Sally Beauty had a net margin of 4.13% and a return on equity of 31.37%. Sally Beauty’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. On average, research analysts expect that Sally Beauty Holdings, Inc. will post 1.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Kim Mcintosh sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.53, for a total transaction of $62,479.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,685 shares of the company’s stock, valued at $242,433.05. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott C. Sherman sold 13,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.49, for a total transaction of $195,615.00. Following the transaction, the insider now directly owns 42,431 shares of the company’s stock, valued at $614,825.19. This represents a 24.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Sally Beauty

Several hedge funds have recently made changes to their positions in SBH. Marshall Wace LLP bought a new position in shares of Sally Beauty in the second quarter valued at $11,796,000. Dimensional Fund Advisors LP boosted its position in Sally Beauty by 34.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,287,674 shares of the specialty retailer’s stock worth $35,276,000 after purchasing an additional 833,720 shares during the period. Millennium Management LLC boosted its position in Sally Beauty by 945.0% during the second quarter. Millennium Management LLC now owns 847,956 shares of the specialty retailer’s stock worth $9,099,000 after purchasing an additional 766,815 shares during the period. FMR LLC boosted its position in Sally Beauty by 2.6% during the third quarter. FMR LLC now owns 15,396,347 shares of the specialty retailer’s stock worth $208,928,000 after purchasing an additional 387,736 shares during the period. Finally, Maverick Capital Ltd. boosted its position in Sally Beauty by 141.3% during the second quarter. Maverick Capital Ltd. now owns 262,481 shares of the specialty retailer’s stock worth $2,816,000 after purchasing an additional 153,707 shares during the period.

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.