Sally Beauty (NYSE:SBH) Stock Price Down 5.7% – Here’s What Happened

Shares of Sally Beauty Holdings, Inc. (NYSE:SBH) were down 5.7% during trading on Tuesday . The company traded as low as $7.94 and last traded at $7.98. Approximately 1,101,149 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 1,730,122 shares. The stock had previously closed at $8.46.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Sally Beauty from $12.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Canaccord Genuity Group initiated coverage on Sally Beauty in a research note on Thursday, January 16th. They issued a “buy” rating and a $14.00 price target on the stock. StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, DA Davidson lowered their price objective on shares of Sally Beauty from $13.00 to $10.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Sally Beauty presently has an average rating of “Hold” and a consensus price target of $12.70.

Sally Beauty Price Performance

The firm’s fifty day simple moving average is $8.99 and its two-hundred day simple moving average is $11.13. The company has a quick ratio of 0.44, a current ratio of 2.27 and a debt-to-equity ratio of 1.43. The firm has a market cap of $816.14 million, a PE ratio of 4.79 and a beta of 1.35.

Sally Beauty (NYSE:SBH) last posted its quarterly earnings results on Thursday, February 13th. The specialty retailer reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $937.90 million for the quarter, compared to analysts’ expectations of $941.44 million. Sally Beauty had a return on equity of 30.35% and a net margin of 4.73%. As a group, research analysts expect that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current year.

Institutional Investors Weigh In On Sally Beauty

Institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC lifted its stake in Sally Beauty by 536.4% in the 1st quarter. Parallel Advisors LLC now owns 3,920 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 3,304 shares in the last quarter. Federated Hermes Inc. grew its holdings in Sally Beauty by 119.1% during 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 in the last quarter. GAMMA Investing LLC raised its holdings in shares of Sally Beauty by 820.3% during the 1st quarter. GAMMA Investing LLC now owns 4,712 shares of the specialty retailer’s stock worth $43,000 after acquiring an additional 4,200 shares in the last quarter. R Squared Ltd bought a new position in shares of Sally Beauty during the 4th quarter valued at approximately $56,000. Finally, KBC Group NV grew its holdings in shares of Sally Beauty by 89.0% in the fourth quarter. KBC Group NV now owns 5,871 shares of the specialty retailer’s stock valued at $61,000 after purchasing an additional 2,764 shares in 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.