Morgan Stanley Cuts Sally Beauty (NYSE:SBH) Price Target to $10.00

Sally Beauty (NYSE:SBH) had its target price cut by Morgan Stanley from $12.00 to $10.00 in a report published on Tuesday,Benzinga reports. They currently have an underweight rating on the specialty retailer’s stock.

Several other research firms have also issued reports on SBH. DA Davidson upped their price target on Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Raymond James upgraded shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a research report on Friday, November 15th. TD Cowen raised shares of Sally Beauty from a “hold” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $16.00 in a research report on Monday, November 25th. StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a research note on Saturday, November 23rd. Finally, Canaccord Genuity Group began coverage on Sally Beauty in a report on Thursday, January 16th. They issued a “buy” rating and a $14.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.20.

Sally Beauty Stock Performance

Shares of SBH stock opened at $11.27 on Tuesday. 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 company has a market cap of $1.15 billion, a PE ratio of 7.83 and a beta of 1.56. The company’s fifty day simple moving average is $12.07 and its 200-day simple moving average is $12.22. Sally Beauty has a 52 week low of $9.06 and a 52 week high of $14.79.

Sally Beauty (NYSE:SBH) last posted its earnings results on Thursday, November 14th. The specialty retailer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $935.88 million. Sally Beauty had a net margin of 4.13% and a return on equity of 31.37%. During the same period in the previous year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Sally Beauty will post 1.85 EPS for the current year.

Insider Transactions at Sally Beauty

In other Sally Beauty news, CAO Kim Mcintosh sold 4,300 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 16,685 shares of the company’s stock, valued at $242,433.05. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott C. Sherman sold 13,500 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $14.49, for a total value of $195,615.00. Following the completion of the transaction, the insider now directly owns 42,431 shares of the company’s stock, valued at approximately $614,825.19. This trade represents a 24.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sally Beauty

Hedge funds have recently made changes to their positions in the company. Quarry LP grew its stake in shares of Sally Beauty by 369.3% during the third quarter. Quarry LP now owns 2,980 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 2,345 shares during the last quarter. R Squared Ltd acquired a new position in Sally Beauty during the 4th quarter worth $56,000. KBC Group NV boosted its position in Sally Beauty by 89.0% in the 4th quarter. KBC Group NV now owns 5,871 shares of the specialty retailer’s stock valued at $61,000 after buying an additional 2,764 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Sally Beauty in the 3rd quarter valued at $64,000. Finally, nVerses Capital LLC bought a new stake in shares of Sally Beauty during the third quarter worth $94,000.

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.