TD Cowen Trims Sally Beauty (NYSE:SBH) Target Price to $11.00

Sally Beauty (NYSE:SBH) had its target price trimmed by TD Cowen from $13.00 to $11.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the specialty retailer’s stock.

Other analysts also recently issued reports about the company. Piper Sandler decreased their price objective on Sally Beauty from $17.00 to $16.00 and set an overweight rating for the company in a report on Tuesday, March 19th. DA Davidson boosted their price target on shares of Sally Beauty from $12.00 to $13.00 and gave the company a neutral rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $12.00.

Sally Beauty Price Performance

Shares of SBH stock opened at $10.60 on Wednesday. The company has a market capitalization of $1.11 billion, a P/E ratio of 6.75 and a beta of 1.46. The company’s 50-day simple moving average is $12.10 and its two-hundred day simple moving average is $11.14. Sally Beauty has a one year low of $7.21 and a one year high of $14.64. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.20 and a quick ratio of 0.45.

Sally Beauty (NYSE:SBH) last announced its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. The company had revenue of $931.30 million for the quarter, compared to analysts’ expectations of $929.49 million. Sally Beauty had a return on equity of 37.78% and a net margin of 4.66%. Sally Beauty’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, equities analysts anticipate that Sally Beauty will post 1.87 EPS for the current year.

Hedge Funds Weigh In On Sally Beauty

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Sally Beauty by 6.0% during the third quarter. Vanguard Group Inc. now owns 13,732,079 shares of the specialty retailer’s stock worth $115,075,000 after purchasing an additional 780,329 shares in the last quarter. Raymond James & Associates purchased a new stake in Sally Beauty in the fourth quarter valued at about $3,744,000. Invesco Ltd. grew its stake in shares of Sally Beauty by 20.7% during the third quarter. Invesco Ltd. now owns 805,398 shares of the specialty retailer’s stock worth $6,749,000 after acquiring an additional 137,976 shares during the last quarter. Duality Advisers LP increased its holdings in shares of Sally Beauty by 234.9% during the third quarter. Duality Advisers LP now owns 131,046 shares of the specialty retailer’s stock valued at $1,098,000 after acquiring an additional 91,915 shares in the last quarter. Finally, CenterBook Partners LP boosted its stake in Sally Beauty by 18.0% in the 3rd quarter. CenterBook Partners LP now owns 629,200 shares of the specialty retailer’s stock worth $5,273,000 after purchasing an additional 96,169 shares in the last quarter.

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.