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

Sally Beauty (NYSE:SBH) had its price objective cut by analysts at Morgan Stanley from $12.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the specialty retailer’s stock. Morgan Stanley’s target price would suggest a potential downside of 10.19% from the stock’s previous close.

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

Sally Beauty Trading Down 1.1 %

Sally Beauty stock traded down $0.13 during trading on Tuesday, reaching $11.14. The company had a trading volume of 654,250 shares, compared to its average volume of 1,933,608. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.45 and a current ratio of 2.20. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 7.74 and a beta of 1.56. Sally Beauty has a 12-month low of $9.06 and a 12-month high of $14.79. The stock’s 50 day moving average price is $12.17 and its two-hundred day moving average price is $12.23.

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

Insider Activity

In other news, CAO Kim Mcintosh sold 4,300 shares of Sally Beauty 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 in the company, valued at approximately $242,433.05. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott C. Sherman sold 13,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.49, for a total value of $195,615.00. Following the sale, the insider now directly owns 42,431 shares in the company, valued at approximately $614,825.19. This represents a 24.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.

Institutional Trading of Sally Beauty

Several hedge funds have recently made changes to their positions in SBH. FMR LLC grew 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 acquiring an additional 387,736 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Sally Beauty by 0.3% during 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 purchasing an additional 10,016 shares during the period. Dimensional Fund Advisors LP grew its position in Sally Beauty by 34.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,287,674 shares of the specialty retailer’s stock worth $35,276,000 after purchasing an additional 833,720 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Sally Beauty by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,546,108 shares of the specialty retailer’s stock valued at $34,551,000 after purchasing an additional 80,712 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Sally Beauty by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,415,875 shares of the specialty retailer’s stock worth $32,790,000 after buying an additional 43,016 shares in 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.