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Upgrade Alert for Sally Beauty Holdings (SBH)

By Amy Schwartz

Sally Beauty Holdings (NYSE:SBH) was upgraded from Underperform to Market Perform at Wells Fargo today. The stock closed yesterday at $30.38 on volume of 2.9 million shares, above average daily volume of 1.3 million.

Sally Beauty Holdings, Inc. distributes and retails beauty products. The Company distributes products directly to salons, and retails beauty products through a chain of cash and carry stores.

In the past 52 weeks, Sally Beauty Holdings share prices have been bracketed by a low of $21.94 and a high of $32.93 and closed yesterday at $30.38, 38% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Sally Beauty Holdings (NYSE:SBH) is currently priced 4.3% above its average consensus analyst price target of $29.08. The stock should find resistance at its 50-day moving average (MA) of $31.49, as well as support at its 200-day MA of $27.66.

SmarTrend is tracking the current trend status for Sally Beauty Holdings and will alert subscribers who have SBH in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades sally beauty holdings

Ticker(s): SBH