Sequential Brands Group Inc. (NASDAQ:SQBG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $9.25 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 11.85% from the company’s previous close.
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 a number of other research reports. Piper Jaffray Cos. reiterated an “overweight” rating and set a $12.00 target price on shares of Sequential Brands Group in a report on Thursday, August 25th. Brean Capital restated a “buy” rating and issued a $15.00 price target on shares of Sequential Brands Group in a research note on Wednesday, July 6th. Finally, Canaccord Genuity set a $18.00 price target on Sequential Brands Group and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Five investment analysts have rated the stock with a buy rating, Sequential Brands Group presently has an average rating of “Buy” and an average target price of $13.25.
Shares of Sequential Brands Group (NASDAQ:SQBG) opened at 8.27 on Tuesday. The company’s market capitalization is $514.56 million. Sequential Brands Group has a 52 week low of $5.37 and a 52 week high of $15.01. The firm has a 50 day moving average price of $7.53 and a 200 day moving average price of $7.28.
Sequential Brands Group (NASDAQ:SQBG) last posted its earnings results on Thursday, July 28th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Sequential Brands Group had a positive return on equity of 4.59% and a negative net margin of 3.37%. The firm had revenue of $34.20 million for the quarter, compared to the consensus estimate of $31.23 million. During the same quarter in the prior year, the business earned $0.08 EPS. The business’s revenue for the quarter was up 69.3% on a year-over-year basis. Equities analysts forecast that Sequential Brands Group will post $0.45 EPS for the current year.
Several hedge funds have recently bought and sold shares of SQBG. State of New Jersey Common Pension Fund D increased its stake in Sequential Brands Group by 2.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,379,200 shares of the company’s stock valued at $11,006,000 after buying an additional 35,000 shares during the last quarter. Emerald Advisers Inc. PA increased its stake in shares of Sequential Brands Group by 10.7% in the second quarter. Emerald Advisers Inc. PA now owns 1,351,518 shares of the company’s stock valued at $10,785,000 after buying an additional 130,926 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in shares of Sequential Brands Group by 7.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 1,338,512 shares of the company’s stock valued at $10,681,000 after buying an additional 92,874 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Sequential Brands Group by 17.7% in the second quarter. Eagle Asset Management Inc. now owns 1,324,991 shares of the company’s stock valued at $10,573,000 after buying an additional 199,656 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Sequential Brands Group by 14.6% in the second quarter. Boston Partners now owns 1,260,910 shares of the company’s stock valued at $10,062,000 after buying an additional 160,940 shares in the last quarter. Institutional investors own 57.62% 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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