Sally Beauty (NYSE:SBH) Reaches New 12-Month High Following Analyst Upgrade

Sally Beauty Holdings, Inc. (NYSE:SBH) shares reached a new 52-week high on Friday after Raymond James upgraded the stock from an underperform rating to a market perform rating. The company traded as high as $14.36 and last traded at $13.58, with a volume of 163091 shares traded. The stock had previously closed at $13.78.

Several other research analysts have also recently weighed in on SBH. Morgan Stanley boosted their target price on Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday. StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $12.00 target price on shares of Sally Beauty in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Sally Beauty presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Institutional Trading of Sally Beauty

Several institutional investors have recently made changes to their positions in SBH. DekaBank Deutsche Girozentrale acquired a new stake in Sally Beauty during the first quarter worth $64,000. nVerses Capital LLC purchased a new position in shares of Sally Beauty during the 3rd quarter worth $94,000. Quest Partners LLC increased its position in shares of Sally Beauty by 16,095.6% during the 2nd quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer’s stock worth $78,000 after purchasing an additional 7,243 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Sally Beauty during the 2nd quarter worth about $113,000. Finally, Meeder Asset Management Inc. purchased a new stake in Sally Beauty in the 2nd quarter valued at about $117,000.

Sally Beauty Price Performance

The company has a quick ratio of 0.40, a current ratio of 2.12 and a debt-to-equity ratio of 1.69. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 10.05 and a beta of 1.53. The stock’s 50-day simple moving average is $12.93 and its 200 day simple moving average is $11.85.

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.