Morgan Stanley Raises Sally Beauty (NYSE:SBH) Price Target to $12.00

Sally Beauty (NYSE:SBH) had its price objective upped by analysts at Morgan Stanley from $8.00 to $12.00 in a report released on Friday,Benzinga reports. The firm presently has an “underweight” rating on the specialty retailer’s stock. Morgan Stanley’s target price points to a potential downside of 12.85% from the stock’s previous close.

Several other brokerages have also weighed in on SBH. StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a report on Monday, September 16th. DA Davidson reiterated a “neutral” rating and issued a $12.00 price target on shares of Sally Beauty in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.00.

Sally Beauty Price Performance

Shares of NYSE SBH opened at $13.77 on Friday. The stock’s 50 day moving average price is $12.93 and its 200-day moving average price is $11.85. The company has a quick ratio of 0.40, a current ratio of 2.12 and a debt-to-equity ratio of 1.69. Sally Beauty has a twelve month low of $8.59 and a twelve month high of $14.09. The company has a market capitalization of $1.41 billion, a PE ratio of 10.05 and a beta of 1.53.

Hedge Funds Weigh In On Sally Beauty

Hedge funds and other institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new position in Sally Beauty during the first quarter valued at $64,000. nVerses Capital LLC purchased a new stake in shares of Sally Beauty during the 3rd quarter valued at about $94,000. Quest Partners LLC grew its position in shares of Sally Beauty by 16,095.6% during the 2nd quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer’s stock valued at $78,000 after acquiring an additional 7,243 shares during the period. Algert Global LLC bought a new position in shares of Sally Beauty in the second quarter worth about $113,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Sally Beauty in the second quarter worth approximately $117,000.

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.