DA Davidson Cuts Sally Beauty (SBH) Price Target to $16.50

Sally Beauty (NYSE:SBH) had its price target reduced by equities researchers at DA Davidson to $16.50 in a research report issued on Tuesday, May 7th, The Fly reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. DA Davidson’s target price would indicate a potential upside of 8.20% from the stock’s current price. DA Davidson also issued estimates for Sally Beauty’s Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $0.54 EPS, FY2019 earnings at $2.20 EPS and FY2020 earnings at $2.24 EPS.

Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Sally Beauty from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, April 16th. ValuEngine cut shares of Sally Beauty from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Bank of America reaffirmed an “underperform” rating and issued a $16.00 target price (down from $19.00) on shares of Sally Beauty in a research note on Thursday, May 2nd. Wells Fargo & Co set a $18.00 target price on shares of Sally Beauty and gave the stock a “hold” rating in a research note on Tuesday, February 5th. Finally, BMO Capital Markets raised shares of Sally Beauty to a “market perform” rating and set a $17.00 target price for the company in a research note on Friday, May 3rd. Six analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has a consensus rating of “Sell” and an average price target of $16.31.

Shares of SBH traded down $0.14 during mid-day trading on Tuesday, reaching $15.25. 1,608,500 shares of the company’s stock were exchanged, compared to its average volume of 1,555,749. Sally Beauty has a 52-week low of $13.72 and a 52-week high of $23.61. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 1.88 and a beta of 0.41.

Sally Beauty (NYSE:SBH) last issued its quarterly earnings data on Wednesday, May 1st. The specialty retailer reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). The business had revenue of $945.90 million for the quarter, compared to analysts’ expectations of $964.08 million. Sally Beauty had a negative return on equity of 110.97% and a net margin of 6.28%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the business earned $0.54 earnings per share. On average, equities analysts expect that Sally Beauty will post 2.19 earnings per share for the current year.

In other Sally Beauty news, Director Edward W. Rabin bought 5,500 shares of Sally Beauty stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $16.38 per share, for a total transaction of $90,090.00. Following the acquisition, the director now owns 19,732 shares of the company’s stock, valued at approximately $323,210.16. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christian A. Brickman bought 10,000 shares of Sally Beauty stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $16.40 per share, for a total transaction of $164,000.00. Following the acquisition, the chief executive officer now directly owns 355,332 shares in the company, valued at approximately $5,827,444.80. The disclosure for this purchase can be found here. 1.04% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. Truvestments Capital LLC acquired a new position in Sally Beauty in the 1st quarter worth $28,000. Advisory Services Network LLC lifted its holdings in Sally Beauty by 118.1% in the 1st quarter. Advisory Services Network LLC now owns 1,684 shares of the specialty retailer’s stock worth $32,000 after buying an additional 912 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Sally Beauty in the 1st quarter worth $38,000. Royce & Associates LP lifted its holdings in Sally Beauty by 40.6% in the 1st quarter. Royce & Associates LP now owns 2,510 shares of the specialty retailer’s stock worth $46,000 after buying an additional 725 shares in the last quarter. Finally, One Wealth Advisors LLC acquired a new position in Sally Beauty in the 1st quarter worth $70,000.

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, skin and nail care, styling tools, and other beauty products for retail customers and salon professionals.

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The Fly

Analyst Recommendations for Sally Beauty (NYSE:SBH)

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