StockNews.com Downgrades Sally Beauty (NYSE:SBH) to Hold

Sally Beauty (NYSE:SBH) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Several other research analysts have also recently weighed in on the stock. Raymond James raised shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday. Morgan Stanley increased their target price on Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a research note on Friday. DA Davidson boosted their price target on Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday. Finally, TD Cowen upped their price objective on Sally Beauty from $13.00 to $14.00 and gave the company a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.00.

Sally Beauty Stock Performance

Shares of SBH traded down $0.37 during trading hours on Friday, hitting $13.41. The company had a trading volume of 1,852,801 shares, compared to its average volume of 1,358,238. The business has a fifty day moving average of $12.96 and a 200-day moving average of $11.87. 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 firm has a market cap of $1.38 billion, a price-to-earnings ratio of 9.79 and a beta of 1.53. Sally Beauty has a 12 month low of $8.59 and a 12 month high of $14.36.

Hedge Funds Weigh In On Sally Beauty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Foundry Partners LLC acquired a new stake in shares of Sally Beauty during the 2nd quarter worth approximately $535,000. Lazard Asset Management LLC increased its stake in shares of Sally Beauty by 303.7% in the 1st quarter. Lazard Asset Management LLC now owns 429,938 shares of the specialty retailer’s stock valued at $5,339,000 after purchasing an additional 323,438 shares during the last quarter. Maverick Capital Ltd. raised its holdings in shares of Sally Beauty by 141.3% during the 2nd quarter. Maverick Capital Ltd. now owns 262,481 shares of the specialty retailer’s stock worth $2,816,000 after buying an additional 153,707 shares in the last quarter. Wolverine Asset Management LLC lifted its position in shares of Sally Beauty by 120.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 100,567 shares of the specialty retailer’s stock worth $1,079,000 after buying an additional 55,000 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Sally Beauty by 9.1% in the first quarter. Sei Investments Co. now owns 196,569 shares of the specialty retailer’s stock valued at $2,441,000 after buying an additional 16,314 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.