Sequential Brands Group, Inc. (NASDAQ:SQBG) has been given an average rating of “Buy” by the nine brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $10.33.
A number of equities research analysts have recently commented on the stock. ValuEngine cut shares of Sequential Brands Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Canaccord Genuity set a $6.00 target price on shares of Sequential Brands Group and gave the company a “buy” rating in a research report on Thursday, May 4th. Wunderlich increased their target price on shares of Sequential Brands Group from $9.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Zacks Investment Research cut shares of Sequential Brands Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, CL King cut shares of Sequential Brands Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 28th.
Shares of Sequential Brands Group (NASDAQ:SQBG) traded up 1.97% during midday trading on Monday, hitting $3.11. 178,272 shares of the company traded hands. The stock’s market capitalization is $195.26 million. The company has a 50-day moving average price of $3.55 and a 200-day moving average price of $3.75. Sequential Brands Group has a 52 week low of $2.81 and a 52 week high of $8.49.
Sequential Brands Group (NASDAQ:SQBG) last issued its earnings results on Thursday, May 4th. The textile maker reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.05. The business had revenue of $39.40 million during the quarter, compared to analysts’ expectations of $37.08 million. Sequential Brands Group had a negative net margin of 0.57% and a negative return on equity of 0.17%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 earnings per share. Analysts anticipate that Sequential Brands Group will post $0.52 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in SQBG. State Street Corp boosted its stake in Sequential Brands Group by 4.8% in the fourth quarter. State Street Corp now owns 605,865 shares of the textile maker’s stock valued at $2,834,000 after buying an additional 28,007 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Sequential Brands Group by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 398,702 shares of the textile maker’s stock valued at $1,866,000 after buying an additional 73,851 shares during the last quarter. Teachers Advisors LLC boosted its stake in Sequential Brands Group by 16.3% in the fourth quarter. Teachers Advisors LLC now owns 69,454 shares of the textile maker’s stock valued at $325,000 after buying an additional 9,754 shares during the last quarter. Mycio Wealth Partners LLC purchased a new stake in Sequential Brands Group during the first quarter valued at about $100,000. Finally, State of New Jersey Common Pension Fund D boosted its stake in Sequential Brands Group by 0.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,656,200 shares of the textile maker’s stock valued at $6,443,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 54.55% of the company’s stock.
About Sequential Brands Group
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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