Sally Beauty (NYSE:SBH) Stock Price Down 5.6% – Here’s What Happened

Sally Beauty Holdings, Inc. (NYSE:SBH)’s share price dropped 5.6% on Monday . The company traded as low as $10.22 and last traded at $10.23. Approximately 1,078,537 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 1,440,785 shares. The stock had previously closed at $10.84.

Wall Street Analyst Weigh In

SBH has been the topic of a number of research analyst reports. DA Davidson lifted their price target on Sally Beauty from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. TD Cowen raised Sally Beauty from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research note on Monday, November 25th. Raymond James raised shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a research note on Friday, November 15th. Morgan Stanley boosted their price objective on shares of Sally Beauty from $8.00 to $12.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Finally, StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Sally Beauty has an average rating of “Hold” and a consensus target price of $13.50.

Sally Beauty Stock Up 4.5 %

The company has a current ratio of 2.20, a quick ratio of 0.45 and a debt-to-equity ratio of 1.56. The firm’s fifty day simple moving average is $12.75 and its 200 day simple moving average is $12.20. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 7.26 and a beta of 1.51.

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

Insider Activity at Sally Beauty

In other news, CAO Kim Mcintosh sold 4,300 shares of Sally Beauty stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.53, for a total transaction of $62,479.00. Following the sale, the chief accounting officer now owns 16,685 shares in the company, valued at approximately $242,433.05. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott C. Sherman sold 13,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.49, for a total value of $195,615.00. Following the completion of the sale, the insider now directly owns 42,431 shares of the company’s stock, valued at approximately $614,825.19. This trade represents a 24.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Sally Beauty

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP grew its position in Sally Beauty by 369.3% during the 3rd quarter. Quarry LP now owns 2,980 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 2,345 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Sally Beauty during the third quarter worth about $64,000. Quest Partners LLC grew its holdings in shares of Sally Beauty by 16,095.6% during the second quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer’s stock worth $78,000 after buying an additional 7,243 shares during the last quarter. nVerses Capital LLC acquired a new position in Sally Beauty in the 3rd quarter valued at about $94,000. Finally, Algert Global LLC purchased a new stake in Sally Beauty during the 2nd quarter valued at approximately $113,000.

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.