Canaccord Genuity Analysts Give Sequential Brands Group Inc. (SQBG) a $18.00 Price Target
Sequential Brands Group Inc. (NASDAQ:SQBG) received a $18.00 price target from equities researchers at Canaccord Genuity in a research note issued to investors on Wednesday. The brokerage currently has a a “buy” rating on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 124.16% from the company’s previous close.
Several other equities research analysts have also recently weighed in on SQBG. Zacks Investment Research upgraded Sequential Brands Group from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a research note on Thursday, July 28th. Piper Jaffray Cos. restated a “buy” rating and set a $12.00 target price on shares of Sequential Brands Group in a research note on Thursday, July 28th. Finally, Brean Capital restated a “buy” rating and set a $15.00 target price on shares of Sequential Brands Group in a research note on Friday, July 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $14.25.
Shares of Sequential Brands Group (NASDAQ:SQBG) opened at 8.03 on Wednesday. The company’s 50 day moving average price is $7.43 and its 200-day moving average price is $7.24. Sequential Brands Group has a 52 week low of $5.37 and a 52 week high of $15.01. The firm’s market capitalization is $499.63 million.
Sequential Brands Group (NASDAQ:SQBG) last released its earnings results on Thursday, July 28th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate 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 earned $34.20 million during the quarter, compared to analysts’ expectations of $31.23 million. During the same period in the prior year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 69.3% on a year-over-year basis. On average, equities research analysts expect that Sequential Brands Group will post $0.45 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in SQBG. Emerald Acquisition Ltd. purchased a new position in shares of Sequential Brands Group during the second quarter worth approximately $4,834,000. Mckinley Capital Management LLC Delaware bought a new position in shares of Sequential Brands Group during the first quarter valued at about $2,112,000. Friess Associates LLC raised its position in shares of Sequential Brands Group by 256.5% in the second quarter. Friess Associates LLC now owns 347,600 shares of the company’s stock valued at $2,774,000 after buying an additional 250,100 shares in the last quarter. Eagle Asset Management Inc. raised its position 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, BlackRock Group LTD raised its position in shares of Sequential Brands Group by 52.8% in the second quarter. BlackRock Group LTD now owns 527,529 shares of the company’s stock valued at $4,210,000 after buying an additional 182,231 shares in the last quarter. Institutional investors own 57.62% of the company’s stock.
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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