Sequential Brands Group Inc. (SQBG) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Sequential Brands Group Inc. (NASDAQ:SQBG) from a hold rating to a buy rating in a research report released on Tuesday. The firm currently has $9.25 target price on the stock.
According to Zacks, “Sequential Brands Group Inc. is a licensing and brand management company focused on promoting, marketing and licensing a portfolio of consumer brands. The Company’s brands include William Rast(R) and People’s Liberation(R). It licenses its brands with respect to a broad range of products, including apparel, eyewear, footwear and fashion accessories, including handbags, watches and luggage. Sequential Brands Group Inc., formerly known as People’s Liberation, Inc., is headquartered in Pacific Palisades, California. “
SQBG has been the topic of several other reports. Piper Jaffray Cos. reiterated a buy rating and issued a $12.00 target price on shares of Sequential Brands Group in a report on Thursday, July 28th. Brean Capital reiterated a buy rating and issued a $15.00 target price on shares of Sequential Brands Group in a report on Wednesday, September 28th. Finally, Canaccord Genuity set a $18.00 target price on shares of Sequential Brands Group and gave the stock a buy rating in a report on Thursday, July 28th. Five research analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and a consensus target price of $13.25.
Shares of Sequential Brands Group (NASDAQ:SQBG) traded up 0.3539% during midday trading on Tuesday, reaching $8.3093. 4,481 shares of the company were exchanged. Sequential Brands Group has a 52-week low of $5.37 and a 52-week high of $14.70. The company’s market capitalization is $517.00 million. The stock has a 50-day moving average price of $7.56 and a 200 day moving average price of $7.29.
Sequential Brands Group (NASDAQ:SQBG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Sequential Brands Group had a negative net margin of 3.37% and a positive return on equity of 4.59%. The business had revenue of $34.20 million for the quarter, compared to analyst estimates of $31.23 million. During the same period in the prior year, the business posted $0.08 earnings per share. Sequential Brands Group’s revenue was up 69.3% compared to the same quarter last year. Equities research analysts expect that Sequential Brands Group will post $0.45 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQBG. Diker Management LLC increased its position in Sequential Brands Group by 51.3% in the second quarter. Diker Management LLC now owns 131,802 shares of the company’s stock worth $1,052,000 after buying an additional 44,705 shares during the period. Parametric Portfolio Associates LLC increased its position in Sequential Brands Group by 112.7% in the second quarter. Parametric Portfolio Associates LLC now owns 209,012 shares of the company’s stock worth $1,668,000 after buying an additional 110,740 shares during the period. Citadel Advisors LLC increased its position in Sequential Brands Group by 1.4% in the second quarter. Citadel Advisors LLC now owns 31,531 shares of the company’s stock worth $252,000 after buying an additional 436 shares during the period. State Street Corp increased its position in Sequential Brands Group by 20.2% in the second quarter. State Street Corp now owns 557,939 shares of the company’s stock worth $4,449,000 after buying an additional 93,677 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Sequential Brands Group by 5.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 927,114 shares of the company’s stock worth $7,398,000 after buying an additional 50,757 shares during the period. 57.62% of the stock is owned by institutional investors and hedge funds.
Sequential Brands Group Company Profile
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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