DA Davidson Has Lowered Expectations for Sally Beauty (NYSE:SBH) Stock Price

Sally Beauty (NYSE:SBH) had its price target reduced by equities research analysts at DA Davidson from $13.00 to $10.50 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty retailer’s stock. DA Davidson’s price objective indicates a potential upside of 13.38% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Canaccord Genuity Group started coverage on Sally Beauty in a research report on Thursday, January 16th. They set a “buy” rating and a $14.00 price objective for the company. TD Cowen upgraded Sally Beauty from a “hold” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a report on Monday, November 25th. Morgan Stanley dropped 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, StockNews.com lowered Sally Beauty from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Sally Beauty presently has an average rating of “Hold” and a consensus target price of $12.70.

Sally Beauty Stock Down 3.4 %

NYSE:SBH opened at $9.26 on Tuesday. Sally Beauty has a 1 year low of $9.06 and a 1 year high of $14.79. The company has a current ratio of 2.20, a quick ratio of 0.45 and a debt-to-equity ratio of 1.56. The stock has a market cap of $943.51 million, a price-to-earnings ratio of 6.43 and a beta of 1.55. The stock has a 50-day moving average price of $10.97 and a two-hundred day moving average price of $12.14.

Sally Beauty (NYSE:SBH) last posted its earnings results on Thursday, February 13th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $937.90 million during the quarter, compared to analysts’ expectations of $941.44 million. Sally Beauty had a return on equity of 31.37% and a net margin of 4.13%. As a group, equities analysts expect that Sally Beauty will post 1.84 earnings per share for the current year.

Insider Transactions at Sally Beauty

In other news, insider Scott C. Sherman sold 13,500 shares of the 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 owns 42,431 shares in the company, valued at approximately $614,825.19. This trade represents a 24.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Kim Mcintosh sold 4,300 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.53, for a total value of $62,479.00. Following the transaction, the chief accounting officer now owns 16,685 shares in the company, valued at approximately $242,433.05. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. 1.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sally Beauty

A number of large investors have recently added to or reduced their stakes in the stock. Hancock Whitney Corp grew its position in 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 buying an additional 773 shares in the last quarter. Corient Private Wealth LLC grew its position in Sally Beauty by 5.9% during the fourth quarter. Corient Private Wealth LLC now owns 19,181 shares of the specialty retailer’s stock worth $200,000 after buying an additional 1,069 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Sally Beauty by 8.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,395 shares of the specialty retailer’s stock worth $140,000 after buying an additional 1,090 shares in the last quarter. Federated Hermes Inc. grew its position in Sally Beauty by 119.1% during the fourth quarter. Federated Hermes Inc. now owns 3,702 shares of the specialty retailer’s stock worth $39,000 after buying an additional 2,012 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sally Beauty by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,569 shares of the specialty retailer’s stock worth $612,000 after buying an additional 2,137 shares in the last quarter.

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.