Why Is Sally Beauty (SBH) Stock Soaring Today
What Happened:
Shares of beauty supply retailer Sally Beauty (NYSE:SBH) jumped 7.6% in the morning session after the company reported first-quarter results with revenue slightly exceeding estimates, driven by a better-than-expected performance in its Beauty Systems Group, which contributed to outperformance in its same-store sales. EPS also beat. For the full year, the company maintained its sales projections, with growth expected to be flat, "reflecting growth from the company's strategic initiatives, offset by anticipated pressure on consumer spending." Overall, it was a decent but mixed quarter for the company.
Is now the time to buy Sally Beauty? Access our full analysis report here, it's free.
What is the market telling us:
Sally Beauty's shares are not very volatile than the market average and over the last year have had only 20 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Sally Beauty is down 2.3% since the beginning of the year, and at $12.99 per share it is trading 27.7% below its 52-week high of $17.97 from February 2023. Investors who bought $1,000 worth of Sally Beauty's shares 5 years ago would now be looking at an investment worth $745.69.
Do you want to know what moves the stocks you care about? Add them to your StockStory watchlist and every time a stock we cover moves more than 5%, we provide you with a timely explanation straight to your inbox. It's free and will only take you a second.
