Sequential Brands Group Inc. (SQBG) Stock Price Up 5.5%
Sequential Brands Group Inc. (NASDAQ:SQBG) shares rose 5.5% on Friday . The company traded as high as $7.55 and last traded at $7.46, with a volume of 572,311 shares. The stock had previously closed at $7.07.
SQBG has been the topic of a number of recent analyst reports. Piper Jaffray Cos. reissued an “overweight” rating and set a $11.00 target price on shares of Sequential Brands Group in a report on Saturday, May 7th. Roth Capital reiterated a “buy” rating on shares of Sequential Brands Group in a research report on Thursday, May 12th. Brean Capital assumed coverage on Sequential Brands Group in a research report on Tuesday, June 21st. They set a “buy” rating and a $16.00 price objective on the stock. Zacks Investment Research cut Sequential Brands Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Canaccord Genuity set a $18.00 price objective on Sequential Brands Group and gave the stock a “buy” rating in a research report on Thursday, July 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Sequential Brands Group presently has a consensus rating of “Buy” and an average price target of $14.71.
The company’s market cap is $463.54 million. The stock has a 50 day moving average of $7.94 and a 200-day moving average of $6.96.
Sequential Brands Group (NASDAQ:SQBG) last announced its earnings results on Thursday, July 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The company had revenue of $34.20 million for the quarter, compared to analysts’ expectations of $31.23 million. The firm’s quarterly revenue was up 69.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. On average, equities research analysts anticipate that Sequential Brands Group Inc. will post $0.45 earnings per share for the current year.
A hedge fund recently raised its stake in Sequential Brands Group stock. State of New Jersey Common Pension Fund D increased its stake in shares of Sequential Brands Group Inc. (NASDAQ:SQBG) by 22.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,344,200 shares of the company’s stock after buying an additional 245,000 shares during the period. State of New Jersey Common Pension Fund D owned about 3.35% of Sequential Brands Group worth $10,633,000 as of its most recent SEC filing.
Sequential Brands Group, Inc owns a portfolio of consumer brands in the fashion, home, athletic and lifestyle categories. The Company’s portfolio of consumer brands includes Martha Stewart, Emeril Lagasse, Jessica Simpson, Joe’s Jeans, William Rast, Ellen Tracy, Revo, AND1 and Avia. The Company’s brands are licensed for a range of product categories, including apparel, footwear, eyewear, fashion accessories and home goods.
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