Sally Beauty (NYSE:SBH) Trading 21.2% Higher on Earnings Beat

Sally Beauty Holdings, Inc. (NYSE:SBH) shares traded up 21.2% on Monday following a stronger than expected earnings report. The company traded as high as $10.43 and last traded at $9.91. 644,470 shares were traded during trading, a decline of 72% from the average session volume of 2,324,083 shares. The stock had previously closed at $8.17.

The specialty retailer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Sally Beauty had a return on equity of 30.35% and a net margin of 4.73%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SBH. DA Davidson reduced their target price on shares of Sally Beauty from $13.00 to $10.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley reduced their price objective on Sally Beauty from $12.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Canaccord Genuity Group started coverage on Sally Beauty in a research note on Thursday, January 16th. They set a “buy” rating and a $14.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.70.

Institutional Trading of Sally Beauty

A number of institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC lifted its stake in shares of Sally Beauty by 5.9% in the 4th quarter. Corient Private Wealth LLC now owns 19,181 shares of the specialty retailer’s stock valued at $200,000 after purchasing an additional 1,069 shares during the period. PNC Financial Services Group Inc. lifted its stake in Sally Beauty by 8.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,395 shares of the specialty retailer’s stock valued at $140,000 after buying an additional 1,090 shares during the period. SummerHaven Investment Management LLC lifted its stake in Sally Beauty by 1.9% in the first quarter. SummerHaven Investment Management LLC now owns 72,690 shares of the specialty retailer’s stock valued at $656,000 after buying an additional 1,323 shares during the period. Golden State Wealth Management LLC grew its position in shares of Sally Beauty by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 3,470 shares of the specialty retailer’s stock worth $31,000 after buying an additional 1,735 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Sally Beauty by 119.1% during the 4th quarter. Federated Hermes Inc. now owns 3,702 shares of the specialty retailer’s stock worth $39,000 after buying an additional 2,012 shares during the period.

Sally Beauty Stock Up 20.5%

The business’s 50-day moving average is $8.51 and its two-hundred day moving average is $10.49. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.44 and a current ratio of 2.27. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 5.91 and a beta of 1.33.

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.