Sequential Brands Group, Inc. (SQBG) Receives $9.71 Average PT from Analysts
Shares of Sequential Brands Group, Inc. (NASDAQ:SQBG) have received a consensus rating of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $9.71.
Several analysts recently issued reports on the company. Zacks Investment Research lowered Sequential Brands Group from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Roth Capital set a $4.00 price objective on Sequential Brands Group and gave the stock a “buy” rating in a report on Friday, July 28th. Canaccord Genuity set a $6.00 price objective on Sequential Brands Group and gave the stock a “buy” rating in a report on Thursday, July 27th. CL King lowered Sequential Brands Group from a “buy” rating to a “neutral” rating in a report on Wednesday, June 28th. Finally, ValuEngine upgraded Sequential Brands Group from a “hold” rating to a “buy” rating in a report on Thursday, July 6th.
Shares of Sequential Brands Group (SQBG) traded down 2.17% during midday trading on Tuesday, reaching $2.71. The company’s stock had a trading volume of 110,798 shares. Sequential Brands Group has a 52 week low of $2.55 and a 52 week high of $8.49. The stock has a market capitalization of $170.42 million, a PE ratio of 100.37 and a beta of 0.63. The stock has a 50-day moving average price of $2.91 and a 200 day moving average price of $3.37.
Sequential Brands Group (NASDAQ:SQBG) last announced its quarterly earnings data on Thursday, July 27th. The textile maker reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.04. Sequential Brands Group had a return on equity of 1.29% and a net margin of 0.99%. The business had revenue of $42.10 million during the quarter, compared to analyst estimates of $39.15 million. During the same period last year, the company earned $0.06 earnings per share. Sequential Brands Group’s quarterly revenue was up 23.3% compared to the same quarter last year. Equities analysts forecast that Sequential Brands Group will post $0.52 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of SQBG. Voya Investment Management LLC raised its holdings in Sequential Brands Group by 37.6% during the second quarter. Voya Investment Management LLC now owns 25,485 shares of the textile maker’s stock valued at $102,000 after buying an additional 6,958 shares in the last quarter. Brandes Investment Partners LP bought a new position in Sequential Brands Group during the first quarter valued at about $124,000. Wells Fargo & Company MN raised its holdings in Sequential Brands Group by 15.3% during the first quarter. Wells Fargo & Company MN now owns 41,404 shares of the textile maker’s stock valued at $161,000 after buying an additional 5,482 shares in the last quarter. Rhumbline Advisers raised its holdings in Sequential Brands Group by 3.9% during the second quarter. Rhumbline Advisers now owns 47,762 shares of the textile maker’s stock valued at $191,000 after buying an additional 1,780 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co bought a new position in Sequential Brands Group during the second quarter valued at about $200,000. Institutional investors own 51.90% of the company’s stock.
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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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