TD Cowen Forecasts Strong Price Appreciation for Sally Beauty (NYSE:SBH) Stock

Sally Beauty (NYSE:SBH) had its target price upped by stock analysts at TD Cowen from $13.00 to $14.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the specialty retailer’s stock. TD Cowen’s target price would suggest a potential upside of 4.40% from the stock’s current price.

A number of other research firms also recently issued reports on SBH. DA Davidson lifted their target price on Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday. StockNews.com upgraded Sally Beauty from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Raymond James raised shares of Sally Beauty from an “underperform” rating to a “market perform” rating in a research note on Friday. Finally, Morgan Stanley upped their price target on shares of Sally Beauty from $8.00 to $12.00 and gave the stock an “underweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sally Beauty has an average rating of “Hold” and a consensus target price of $13.00.

Sally Beauty Trading Down 2.7 %

NYSE SBH opened at $13.41 on Friday. Sally Beauty has a 52 week low of $8.59 and a 52 week high of $14.36. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.40 and a current ratio of 2.20. The stock’s 50 day moving average price is $12.96 and its two-hundred day moving average price is $11.87. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 9.31 and a beta of 1.53.

Hedge Funds Weigh In On Sally Beauty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP grew 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 purchasing an additional 2,345 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Sally Beauty in the 3rd quarter valued at $64,000. DekaBank Deutsche Girozentrale bought a new position in Sally Beauty during the 1st quarter worth $64,000. nVerses Capital LLC acquired a new stake in shares of Sally Beauty during the third quarter worth $94,000. Finally, Quest Partners LLC boosted 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 acquiring an additional 7,243 shares during the period.

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.