Canaccord Genuity Group Issues Positive Forecast for Sally Beauty (NYSE:SBH) Stock Price

Sally Beauty (NYSE:SBH) had its price objective raised by Canaccord Genuity Group from $15.00 to $19.00 in a report published on Monday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the specialty retailer’s stock.

A number of other analysts have also commented on SBH. TD Cowen lifted their target price on shares of Sally Beauty from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Cowen reaffirmed a “buy” rating on shares of Sally Beauty in a report on Thursday, September 4th. Wall Street Zen raised shares of Sally Beauty from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research raised shares of Sally Beauty from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.88.

Sally Beauty Stock Performance

Shares of Sally Beauty stock opened at $15.78 on Monday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.41 and a quick ratio of 0.49. The firm has a market cap of $1.56 billion, a P/E ratio of 8.48 and a beta of 1.38. The firm has a 50 day simple moving average of $12.13 and a 200 day simple moving average of $9.94. Sally Beauty has a fifty-two week low of $7.54 and a fifty-two week high of $15.92.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings results on Tuesday, August 5th. The specialty retailer reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. The business had revenue of $933.31 million during the quarter, compared to analyst estimates of $928.78 million. Sally Beauty had a net margin of 5.26% and a return on equity of 28.11%. Sally Beauty’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 earnings per share. Sally Beauty has set its FY 2025 guidance at EPS. Sell-side analysts predict that Sally Beauty will post 1.81 earnings per share for the current fiscal year.

Insider Activity at Sally Beauty

In related news, Director Diana Sue Ferguson acquired 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average cost of $12.02 per share, with a total value of $30,050.00. Following the transaction, the director owned 7,912 shares of the company’s stock, valued at $95,102.24. The trade was a 46.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Max R. Rangel purchased 3,500 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were acquired at an average cost of $14.07 per share, for a total transaction of $49,245.00. Following the completion of the transaction, the director directly owned 3,500 shares in the company, valued at approximately $49,245. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 10,500 shares of company stock valued at $132,125. 1.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sally Beauty

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Sally Beauty by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 12,974,982 shares of the specialty retailer’s stock worth $117,164,000 after buying an additional 546,267 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Sally Beauty by 9.3% during the 1st quarter. Victory Capital Management Inc. now owns 4,013,531 shares of the specialty retailer’s stock worth $36,242,000 after buying an additional 342,225 shares during the last quarter. LSV Asset Management boosted its stake in shares of Sally Beauty by 1.3% during the 2nd quarter. LSV Asset Management now owns 3,125,321 shares of the specialty retailer’s stock worth $28,940,000 after buying an additional 40,189 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Sally Beauty by 10.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,868,855 shares of the specialty retailer’s stock worth $25,906,000 after buying an additional 263,269 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Sally Beauty by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,555,955 shares of the specialty retailer’s stock worth $23,671,000 after buying an additional 34,328 shares during 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.