Sally Beauty Holdings (SBH) PT Lowered to $16 at Jefferies
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Rating Summary:
7 Buy, 10 Hold, 3 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Jefferies lowered its price target on Sally Beauty Holdings (NYSE: SBH) to $16.00 (from $18.00) while maintaining a Hold rating after speaking with vendors. Analyst Stephanie Wissink has heard a number of beauty companies call out professional beauty as weak during this earnings cycle. Sales for SBH to professional stylists account for 70% of total; professional brands account for 100% of total.
REV (Hold) professional beauty segment declined -10% (-12% CC), driven by weakness in CND nail products and American Crew. L'Oréal's (OR FP, Hold) professional segment declined -3.6% (+0.5% CC). While COTY (Hold) reported professional up +1%.
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