Sequential Brands Group Inc. (SQBG) Trading Down 2.7%
Sequential Brands Group Inc. (NASDAQ:SQBG)’s share price fell 2.7% during mid-day trading on Tuesday . The company traded as low as $7.01 and last traded at $7.09, with a volume of 58,898 shares changing hands. The stock had previously closed at $7.29.
Several equities research analysts have weighed in on the company. Brean Capital assumed coverage on Sequential Brands Group in a report on Tuesday, June 21st. They issued a “buy” rating and a $16.00 target price for the company. Piper Jaffray Cos. reiterated a “buy” rating and issued a $11.00 target price on shares of Sequential Brands Group in a report on Tuesday, June 14th. Zacks Investment Research upgraded Sequential Brands Group from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a report on Thursday, July 28th. Canaccord Genuity set a $18.00 target price on Sequential Brands Group and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Roth Capital reiterated a “buy” rating on shares of Sequential Brands Group in a report on Thursday, May 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $14.71.
The company’s market capitalization is $451.10 million. The firm has a 50 day moving average price of $7.72 and a 200 day moving average price of $7.00.
Sequential Brands Group (NASDAQ:SQBG) last posted its earnings results on Thursday, July 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $34.20 million for the quarter, compared to analyst estimates of $31.23 million. During the same period last year, the business earned $0.08 EPS. Sequential Brands Group’s revenue was up 69.3% compared to the same quarter last year. On average, equities analysts anticipate that Sequential Brands Group Inc. will post $0.45 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Sequential Brands Group stock. State of New Jersey Common Pension Fund D raised its stake in Sequential Brands Group Inc. (NASDAQ:SQBG) by 22.3% during the fourth quarter, according to its most recent disclosure 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 3.35% of Sequential Brands Group worth $10,633,000 at the end of the most recent reporting period.
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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