Sally Beauty (NYSE:SBH) Hits New 52-Week High After Analyst Upgrade

Shares of Sally Beauty Holdings, Inc. (NYSE:SBH) hit a new 52-week high on Friday after Raymond James upgraded the stock from an underperform rating to a market perform rating. The company traded as high as $14.36 and last traded at $13.58, with a volume of 163091 shares trading hands. The stock had previously closed at $13.78.

Other analysts have also issued research reports about the stock. Morgan Stanley increased their price objective on shares of Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a research note on Friday. StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Finally, DA Davidson reiterated a “neutral” rating and set a $12.00 price objective on shares of Sally Beauty in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.00.

Institutional Investors Weigh In On Sally Beauty

A number of institutional investors have recently modified their holdings of SBH. Hancock Whitney Corp increased its holdings in Sally Beauty by 1.9% in the 3rd quarter. Hancock Whitney Corp now owns 40,661 shares of the specialty retailer’s stock worth $552,000 after acquiring an additional 773 shares in the last quarter. Diversified Trust Co lifted its stake in Sally Beauty by 2.7% in the 2nd quarter. Diversified Trust Co now owns 33,948 shares of the specialty retailer’s stock valued at $364,000 after buying an additional 898 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Sally Beauty by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,196 shares of the specialty retailer’s stock worth $549,000 after buying an additional 1,395 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Sally Beauty by 7.1% during the first quarter. ProShare Advisors LLC now owns 21,589 shares of the specialty retailer’s stock valued at $268,000 after acquiring an additional 1,426 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its position in shares of Sally Beauty by 19.9% in the second quarter. Evergreen Capital Management LLC now owns 13,070 shares of the specialty retailer’s stock valued at $140,000 after acquiring an additional 2,169 shares in the last quarter.

Sally Beauty Price Performance

The company has a debt-to-equity ratio of 1.69, a current ratio of 2.12 and a quick ratio of 0.40. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.05 and a beta of 1.53. The stock has a 50 day moving average price of $12.93 and a 200-day moving average price of $11.85.

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.