Sally Beauty (NYSE:SBH) Shares Gap Up – Here’s Why

Sally Beauty Holdings, Inc. (NYSE:SBH)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $12.53, but opened at $13.35. Sally Beauty shares last traded at $13.19, with a volume of 111,049 shares.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. TD Cowen boosted their price objective on Sally Beauty from $13.00 to $14.00 and gave the stock a “hold” 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 stock a “neutral” rating in a research report on Friday. StockNews.com cut Sally Beauty from a “buy” rating to a “hold” rating in a report on Friday. Raymond James upgraded shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a research note on Friday. Finally, Morgan Stanley upped their target price on shares of Sally Beauty from $8.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.00.

Sally Beauty Trading Down 2.7 %

The business has a 50 day simple moving average of $12.96 and a two-hundred day simple moving average of $11.87. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 9.79 and a beta of 1.53. The company has a current ratio of 2.12, a quick ratio of 0.40 and a debt-to-equity ratio of 1.69.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SBH. FMR LLC lifted its position in shares of Sally Beauty by 2.6% during the third quarter. FMR LLC now owns 15,396,347 shares of the specialty retailer’s stock worth $208,928,000 after purchasing an additional 387,736 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Sally Beauty by 0.3% in the 3rd quarter. Victory Capital Management Inc. now owns 3,514,726 shares of the specialty retailer’s stock valued at $47,695,000 after acquiring an additional 10,016 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Sally Beauty by 34.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,287,674 shares of the specialty retailer’s stock valued at $35,276,000 after acquiring an additional 833,720 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Sally Beauty by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,546,108 shares of the specialty retailer’s stock worth $34,551,000 after purchasing an additional 80,712 shares during the last quarter. Finally, Invenomic Capital Management LP boosted its holdings in Sally Beauty by 96.8% in the first quarter. Invenomic Capital Management LP now owns 1,223,728 shares of the specialty retailer’s stock worth $15,199,000 after purchasing an additional 601,903 shares during the period.

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.