Sequential Brands Group Inc. (SQBG) Stock Rating Reaffirmed by Piper Jaffray Cos.
Sequential Brands Group Inc. (NASDAQ:SQBG)‘s stock had its “buy” rating restated by Piper Jaffray Cos. in a report released on Tuesday. They currently have a $12.00 target price on the stock. Piper Jaffray Cos.’s price objective points to a potential upside of 49.44% from the stock’s previous close.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Sequential Brands Group from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a research report on Thursday, July 28th. Canaccord Genuity set a $18.00 price objective on shares of Sequential Brands Group and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, Brean Capital reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Sequential Brands Group in a research report 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 company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $14.25.
Shares of Sequential Brands Group (NASDAQ:SQBG) opened at 8.03 on Tuesday. Sequential Brands Group has a one year low of $5.37 and a one year high of $15.01. The stock’s market capitalization is $499.63 million. The firm’s 50-day moving average is $7.43 and its 200-day moving average is $7.24.
Sequential Brands Group (NASDAQ:SQBG) last posted its earnings results on Thursday, July 28th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $34.20 million for the quarter, compared to the consensus estimate of $31.23 million. Sequential Brands Group had a negative net margin of 3.37% and a positive return on equity of 4.59%. The company’s revenue for the quarter was up 69.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. On average, analysts expect that Sequential Brands Group will post $0.45 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. Boston Advisors LLC bought a new stake in Sequential Brands Group during the first quarter worth approximately $474,000. Ramsey Quantitative Systems bought a new stake in Sequential Brands Group during the first quarter worth approximately $416,000. Icon Advisers Inc. Co. bought a new stake in Sequential Brands Group during the first quarter worth approximately $204,000. Mckinley Capital Management LLC Delaware bought a new stake in Sequential Brands Group during the first quarter worth approximately $2,112,000. Finally, BlackRock Group LTD boosted its stake in Sequential Brands Group by 1.6% in the first quarter. BlackRock Group LTD now owns 345,298 shares of the company’s stock worth $2,207,000 after buying an additional 5,527 shares during the period. 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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