DA Davidson Issues Positive Forecast for Sally Beauty (NYSE:SBH) Stock Price

Sally Beauty (NYSE:SBH) had its target price raised by equities researchers at DA Davidson from $12.00 to $13.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the specialty retailer’s stock. DA Davidson’s price objective indicates a potential downside of 2.84% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Raymond James raised shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a report on Friday. StockNews.com raised Sally Beauty from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Finally, Morgan Stanley boosted their price target 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, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Sally Beauty has an average rating of “Hold” and an average target price of $12.25.

Sally Beauty Trading Down 2.9 %

Shares of Sally Beauty stock traded down $0.40 during trading on Friday, hitting $13.38. 889,581 shares of the company were exchanged, compared to its average volume of 1,353,899. The company has a debt-to-equity ratio of 1.69, a current ratio of 2.12 and a quick ratio of 0.40. Sally Beauty has a 1-year low of $8.59 and a 1-year high of $14.36. The firm’s fifty day moving average price is $12.93 and its 200 day moving average price is $11.85. The firm has a market capitalization of $1.37 billion, a P/E ratio of 9.77 and a beta of 1.53.

Institutional Trading of Sally Beauty

Several hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sally Beauty in the 1st quarter worth approximately $64,000. nVerses Capital LLC acquired a new position in Sally Beauty during the 3rd quarter valued at approximately $94,000. Quest Partners LLC grew its stake 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 worth $78,000 after purchasing an additional 7,243 shares in the last quarter. Algert Global LLC bought a new position in Sally Beauty during the second quarter valued at about $113,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Sally Beauty in the second quarter worth about $117,000.

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.