Raymond James Upgrades Sally Beauty (NYSE:SBH) to “Market Perform”

Raymond James upgraded shares of Sally Beauty (NYSE:SBH) from an underperform rating to a market perform rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports.

Other analysts have also recently issued reports about the company. StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. DA Davidson restated a “neutral” rating and set a $12.00 price objective on shares of Sally Beauty in a research report on Tuesday, August 13th. Finally, Morgan Stanley lifted their target price on shares of Sally Beauty from $8.00 to $12.00 and gave the company an “underweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.00.

Sally Beauty Price Performance

Shares of SBH stock traded down $0.37 during mid-day trading on Friday, hitting $13.41. 1,852,802 shares of the stock were exchanged, compared to its average volume of 1,358,238. Sally Beauty has a 52-week low of $8.59 and a 52-week high of $14.36. The company has a quick ratio of 0.40, a current ratio of 2.12 and a debt-to-equity ratio of 1.69. The company has a market cap of $1.38 billion, a PE ratio of 9.79 and a beta of 1.53. The firm has a fifty day moving average of $12.96 and a 200 day moving average of $11.87.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP raised its position in shares of Sally Beauty by 369.3% in the third quarter. Quarry LP now owns 2,980 shares of the specialty retailer’s stock valued at $40,000 after buying an additional 2,345 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Sally Beauty in the 3rd quarter valued at about $64,000. DekaBank Deutsche Girozentrale acquired a new stake in Sally Beauty in the 1st quarter valued at about $64,000. nVerses Capital LLC acquired a new position in shares of Sally Beauty during the 3rd quarter worth approximately $94,000. Finally, Quest Partners LLC grew its position in shares of Sally Beauty by 16,095.6% in the second quarter. Quest Partners LLC now owns 7,288 shares of the specialty retailer’s stock valued at $78,000 after purchasing an additional 7,243 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.