Sequential Brands Group Inc. (SQBG) Trading Up 5.5%
Sequential Brands Group Inc. (NASDAQ:SQBG)’s share price was up 5.5% on Friday . The stock 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.
Several research firms recently weighed in on SQBG. Piper Jaffray Cos. reissued an “overweight” rating and issued a $11.00 target price on shares of Sequential Brands Group in a research note on Saturday, May 7th. Roth Capital reissued a “buy” rating on shares of Sequential Brands Group in a research note on Thursday, May 12th. Brean Capital began coverage on shares of Sequential Brands Group in a research note on Tuesday, June 21st. They issued a “buy” rating and a $16.00 target price for the company. Zacks Investment Research cut shares of Sequential Brands Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Finally, Canaccord Genuity set a $18.00 target price on shares of Sequential Brands Group and gave the company a “buy” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Sequential Brands Group currently has a consensus rating of “Buy” and an average target price of $14.71.
The company’s market capitalization is $463.54 million. The company has a 50-day moving average price of $7.97 and a 200-day moving average price of $6.95.
Sequential Brands Group (NASDAQ:SQBG) last issued its quarterly 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. During the same period last year, the firm posted $0.08 earnings per share. The business earned $34.20 million during the quarter, compared to analyst estimates of $31.23 million. Sequential Brands Group’s quarterly revenue was up 69.3% compared to the same quarter last year. Equities analysts predict that Sequential Brands Group Inc. will post $0.45 EPS for the current year.
An institutional investor recently raised its position in Sequential Brands Group stock. State of New Jersey Common Pension Fund D raised its stake in shares of Sequential Brands Group Inc. (NASDAQ:SQBG) by 22.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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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