Sally Beauty (NYSE:SBH) Trading Up 12.7% After Strong Earnings

Sally Beauty Holdings, Inc. (NYSE:SBH)’s stock price was up 12.7% during mid-day trading on Monday following a better than expected earnings announcement. The company traded as high as $16.69 and last traded at $16.8740. Approximately 250,469 shares traded hands during trading, a decline of 84% from the average daily volume of 1,555,646 shares. The stock had previously closed at $14.97.

The specialty retailer reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. Sally Beauty had a return on equity of 24.95% and a net margin of 4.93%.During the same quarter in the prior year, the firm earned $0.51 EPS. Sally Beauty’s revenue for the quarter was up .3% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TD Cowen cut their price objective on shares of Sally Beauty from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Morgan Stanley lowered their target price on shares of Sally Beauty from $16.00 to $13.00 and set an “underweight” rating for the company in a report on Tuesday, May 12th. Weiss Ratings raised shares of Sally Beauty from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen raised shares of Sally Beauty from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sally Beauty currently has an average rating of “Hold” and a consensus price target of $17.00.

Insider Transactions at Sally Beauty

In other Sally Beauty news, CFO Marlo Michelle Cormier Platz sold 42,771 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $12.70, for a total transaction of $543,191.70. Following the completion of the sale, the chief financial officer owned 138,145 shares of the company’s stock, valued at approximately $1,754,441.50. The trade was a 23.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Sally Beauty

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mariner LLC grew its holdings in shares of Sally Beauty by 6.1% during the 4th quarter. Mariner LLC now owns 15,400 shares of the specialty retailer’s stock worth $220,000 after purchasing an additional 890 shares during the period. Russell Investments Group Ltd. raised its holdings in Sally Beauty by 0.6% in the fourth quarter. Russell Investments Group Ltd. now owns 183,249 shares of the specialty retailer’s stock valued at $2,613,000 after buying an additional 1,081 shares during the period. Versant Capital Management Inc grew its stake in Sally Beauty by 27.2% during the second quarter. Versant Capital Management Inc now owns 5,096 shares of the specialty retailer’s stock worth $72,000 after buying an additional 1,089 shares during the period. B. Metzler seel. Sohn & Co. AG increased its position in shares of Sally Beauty by 1.7% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 89,257 shares of the specialty retailer’s stock worth $1,273,000 after acquiring an additional 1,477 shares in the last quarter. Finally, CWM LLC increased its position in shares of Sally Beauty by 11.3% in the fourth quarter. CWM LLC now owns 14,693 shares of the specialty retailer’s stock worth $210,000 after acquiring an additional 1,490 shares in the last quarter.

Sally Beauty Stock Performance

The company has a current ratio of 2.34, a quick ratio of 0.55 and a debt-to-equity ratio of 0.98. The firm has a market cap of $1.64 billion, a PE ratio of 9.45 and a beta of 1.02. The stock’s 50 day moving average price is $13.95 and its 200 day moving average price is $14.39.

Sally Beauty Company Profile

Sally Beauty Holdings, Inc is a leading global specialty retailer and distributor of professional beauty supplies, serving both retail customers and salon professionals. The company operates two primary channels: Sally Beauty Supply, which offers a broad assortment of hair color, hair care, styling, and skincare products; and Beauty Systems Group (BSG), which provides salon-quality products and supplies to professional stylists and salon owners. With a focus on catering to diverse customer needs, Sally Beauty offers well-known brands alongside private label lines, positioning itself as a one-stop source for beauty professionals and enthusiasts alike.

Founded in 1964 and headquartered in Denton, Texas, Sally Beauty has grown through a combination of organic expansion and strategic acquisitions.