Morgan Stanley Reiterates “Overweight” Rating for Sally Beauty Holdings (SBH)
Sally Beauty Holdings (NYSE:SBH)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Morgan Stanley in a research note issued to investors on Tuesday. They currently have a $30.00 price target on the stock. Morgan Stanley’s price objective would indicate a potential upside of 7.60% from the stock’s previous close.
The analysts wrote, “We recently spent time with Chairman, President & CEO Gary Winterhalter & incoming CEO Chris Brickman (currently President & COO). We are encouraged by Mr. Brickman’s strategic vision, management style and areas of focus.While he does not have significant retail experience, his immersive approach to the business, CPG/consulting background and time spent on SBH’s Board suit him well for the role. Mr. Winterhalter’s continued involvement (Executive Chairman through Jan 2018) will be a valuable resource for Mr. Brickman and for the company.Several observations support our view.”
Separately, analysts at Citigroup Inc. upgraded shares of Sally Beauty Holdings from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $31.25.
In other Sally Beauty Holdings news, Insider John R. Golliher unloaded 252,500 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $27.60, for a total value of $6,969,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Sally Beauty Holdings (NYSE:SBH) traded down 0.07% during mid-day trading on Tuesday, hitting $27.86. The stock had a trading volume of 305,825 shares. Sally Beauty Holdings has a 52 week low of $24.09 and a 52 week high of $31.83. The stock has a 50-day moving average of $25.93 and a 200-day moving average of $26.43. The company has a market cap of $4.323 billion and a P/E ratio of 18.70.
Sally Beauty Holdings (NYSE:SBH) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $949.30 million for the quarter, compared to the consensus estimate of $946.70 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts expect that Sally Beauty Holdings will post $1.53 EPS for the current fiscal year.
Sally Beauty Holdings, Inc is an international specialty retailer and distributor of professional beauty supplies with operations primarily in North America, South America and Europe.
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