Sally Beauty (NYSE:SBH) Shares Gap Up to $11.35

Sally Beauty Holdings, Inc. (NYSE:SBH) shares gapped up before the market opened on Thursday . The stock had previously closed at $11.35, but opened at $11.95. Sally Beauty shares last traded at $12.06, with a volume of 90,359 shares traded.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. DA Davidson restated a “neutral” rating and set a $12.00 price target on shares of Sally Beauty in a research report on Tuesday. TD Cowen reduced their price target on Sally Beauty from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. Piper Sandler reduced their price target on Sally Beauty from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.00.

Sally Beauty Trading Up 9.5 %

The company has a current ratio of 2.12, a quick ratio of 0.40 and a debt-to-equity ratio of 1.69. The firm has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $11.47. The firm has a market cap of $1.28 billion, a PE ratio of 8.20 and a beta of 1.54.

Sally Beauty (NYSE:SBH) last released its earnings results on Thursday, August 8th. The specialty retailer reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The company had revenue of $942.30 million during the quarter, compared to analysts’ expectations of $931.77 million. Sally Beauty had a return on equity of 31.88% and a net margin of 3.99%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. Equities analysts forecast that Sally Beauty Holdings, Inc. will post 1.67 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Sally Beauty by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,196 shares of the specialty retailer’s stock valued at $549,000 after purchasing an additional 1,395 shares during the period. Millennium Management LLC raised its stake in Sally Beauty by 945.0% during the second quarter. Millennium Management LLC now owns 847,956 shares of the specialty retailer’s stock valued at $9,099,000 after buying an additional 766,815 shares during the last quarter. Maverick Capital Ltd. raised its stake in Sally Beauty by 141.3% during the second quarter. Maverick Capital Ltd. now owns 262,481 shares of the specialty retailer’s stock valued at $2,816,000 after buying an additional 153,707 shares during the last quarter. AXA S.A. raised its stake in Sally Beauty by 446.7% during the second quarter. AXA S.A. now owns 166,519 shares of the specialty retailer’s stock valued at $1,787,000 after buying an additional 136,062 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Sally Beauty during the second quarter valued at $1,190,000.

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.