Sally Beauty (NYSE:SBH) Shares Gap Down to $10.82

Sally Beauty Holdings, Inc. (NYSE:SBH)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $10.82, but opened at $10.28. Sally Beauty shares last traded at $10.34, with a volume of 128,959 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SBH shares. DA Davidson lifted their price objective on shares of Sally Beauty from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. TD Cowen dropped their target price on Sally Beauty from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. Finally, Piper Sandler lowered their price target on shares of Sally Beauty from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.00.

Sally Beauty Stock Performance

The stock has a fifty day simple moving average of $11.46 and a two-hundred day simple moving average of $11.44. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 6.80 and a beta of 1.49. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.45 and a current ratio of 2.20.

Institutional Trading of Sally Beauty

A number of hedge funds have recently added to or reduced their stakes in SBH. Inspire Investing LLC grew its position in Sally Beauty by 43.8% during the 3rd quarter. Inspire Investing LLC now owns 36,533 shares of the specialty retailer’s stock worth $306,000 after acquiring an additional 11,129 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Sally Beauty by 92.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,872 shares of the specialty retailer’s stock worth $83,000 after acquiring an additional 4,747 shares during the last quarter. Duality Advisers LP raised its stake in shares of Sally Beauty by 234.9% during the third quarter. Duality Advisers LP now owns 131,046 shares of the specialty retailer’s stock valued at $1,098,000 after acquiring an additional 91,915 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of Sally Beauty during the third quarter worth $555,000. Finally, Barclays PLC increased its holdings in Sally Beauty by 75.3% in the third quarter. Barclays PLC now owns 74,699 shares of the specialty retailer’s stock valued at $626,000 after purchasing an additional 32,076 shares during the period.

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.