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

Sally Beauty (NYSE:SBH) had its price objective lowered by analysts at Morgan Stanley from $12.00 to $10.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the specialty retailer’s stock. Morgan Stanley’s price target points to a potential downside of 9.95% from the stock’s current price.

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

Sally Beauty Price Performance

Shares of NYSE SBH opened at $11.11 on Tuesday. 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 company’s 50-day moving average price is $12.12 and its 200 day moving average price is $12.23. Sally Beauty has a 52 week low of $9.06 and a 52 week high of $14.79. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 7.71 and a beta of 1.56.

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

Insider Buying and Selling

In other Sally Beauty news, CAO Kim Mcintosh sold 4,300 shares of Sally Beauty stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.53, for a total value of $62,479.00. Following the transaction, the chief accounting officer now owns 16,685 shares in the company, valued at $242,433.05. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott C. Sherman sold 13,500 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $14.49, for a total value of $195,615.00. Following the sale, the insider now owns 42,431 shares of the company’s stock, valued at approximately $614,825.19. The trade was a 24.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.56% 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. FMR LLC increased its position in Sally Beauty by 2.6% during the 3rd quarter. FMR LLC now owns 15,396,347 shares of the specialty retailer’s stock worth $208,928,000 after purchasing an additional 387,736 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Sally Beauty by 0.3% in the third quarter. Victory Capital Management Inc. now owns 3,514,726 shares of the specialty retailer’s stock worth $47,695,000 after acquiring an additional 10,016 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 valued at $35,276,000 after acquiring an additional 833,720 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Sally Beauty by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,546,108 shares of the specialty retailer’s stock valued at $34,551,000 after acquiring an additional 80,712 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Sally Beauty by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,415,875 shares of the specialty retailer’s stock valued at $32,790,000 after acquiring an additional 43,016 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.