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

Sally Beauty (NYSE:SBH) had its price target increased by Morgan Stanley from $8.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an underweight rating on the specialty retailer’s stock.

SBH has been the topic of several other research reports. DA Davidson reaffirmed a “neutral” rating and set a $12.00 target price on shares of Sally Beauty in a research note on Tuesday, August 13th. StockNews.com raised shares of Sally Beauty from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.00.

Sally Beauty Price Performance

SBH traded down $0.37 on Friday, hitting $13.41. 1,852,802 shares of the company’s stock were exchanged, compared to its average volume of 1,358,238. Sally Beauty has a fifty-two week low of $8.59 and a fifty-two week high of $14.36. The company has a current ratio of 2.12, a quick ratio of 0.40 and a debt-to-equity ratio of 1.69. The firm has a 50-day moving average price of $12.96 and a 200-day moving average price of $11.87. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 9.79 and a beta of 1.53.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Sally Beauty by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,415,875 shares of the specialty retailer’s stock valued at $32,790,000 after buying an additional 43,016 shares during the period. Barclays PLC raised its holdings in Sally Beauty by 36.6% in the 3rd quarter. Barclays PLC now owns 212,159 shares of the specialty retailer’s stock valued at $2,878,000 after buying an additional 56,879 shares during the period. Quarry LP increased its stake in Sally Beauty by 369.3% during the third quarter. Quarry LP now owns 2,980 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 2,345 shares during the period. Point72 DIFC Ltd purchased a new stake in Sally Beauty during the third quarter worth about $64,000. Finally, Point72 Asset Management L.P. purchased a new stake in Sally Beauty during the third quarter worth about $1,080,000.

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.