Sally Beauty (NYSE:SBH) Price Target Cut to $13.00 by Analysts at Piper Sandler

Sally Beauty (NYSE:SBHGet Free Report) had its target price dropped by research analysts at Piper Sandler from $14.00 to $13.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the specialty retailer’s stock. Piper Sandler’s target price suggests a potential upside of 30.78% from the company’s current price.

Separately, TD Cowen lowered their price target on Sally Beauty from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Sally Beauty has a consensus rating of “Hold” and an average target price of $11.25.

Read Our Latest Stock Report on SBH

Sally Beauty Price Performance

Shares of NYSE:SBH opened at $9.94 on Thursday. The business’s 50 day simple moving average is $10.98 and its 200-day simple moving average is $11.77. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 6.76 and a beta of 1.54. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.99 and a quick ratio of 0.37. Sally Beauty has a 12 month low of $7.21 and a 12 month high of $13.91.

Sally Beauty (NYSE:SBHGet Free Report) last posted its earnings results on Thursday, May 9th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). Sally Beauty had a net margin of 4.36% and a return on equity of 34.23%. The company had revenue of $908.36 million during the quarter, compared to analysts’ expectations of $910.72 million. During the same period in the previous year, the company posted $0.41 EPS. Sally Beauty’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, equities analysts forecast that Sally Beauty will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sally Beauty

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Sally Beauty by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 13,784,422 shares of the specialty retailer’s stock valued at $183,057,000 after purchasing an additional 52,343 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Sally Beauty by 53.6% in the 4th quarter. Schroder Investment Management Group now owns 5,532,978 shares of the specialty retailer’s stock valued at $73,478,000 after purchasing an additional 1,931,188 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Sally Beauty by 16.8% in the 1st quarter. Wasatch Advisors LP now owns 3,731,016 shares of the specialty retailer’s stock valued at $46,339,000 after purchasing an additional 535,753 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Sally Beauty by 8,891.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,804,102 shares of the specialty retailer’s stock valued at $37,238,000 after purchasing an additional 2,772,915 shares in the last quarter. Finally, Polaris Capital Management LLC raised its position in shares of Sally Beauty by 56.5% in the 4th quarter. Polaris Capital Management LLC now owns 2,712,129 shares of the specialty retailer’s stock valued at $36,017,000 after purchasing an additional 979,271 shares in the last quarter.

Sally Beauty Company Profile

(Get Free Report)

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.

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