Sequential Brands Group Inc. (SQBG) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Sequential Brands Group Inc. (NASDAQ:SQBG) from a hold rating to a buy rating in a research report report published on Tuesday morning. Zacks Investment Research currently has $9.25 price objective on the stock.
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. “
Other equities research analysts have also recently issued research reports about the company. Brean Capital initiated coverage on Sequential Brands Group in a report on Tuesday, June 21st. They set a buy rating and a $16.00 target price on the stock. Piper Jaffray Cos. reaffirmed a buy rating and issued a $11.00 price target on shares of Sequential Brands Group in a report on Tuesday, June 14th. Finally, Canaccord Genuity set a $18.00 price target on Sequential Brands Group and gave the company a buy rating in a report on Thursday, July 28th. Five investment analysts have rated the stock with a buy rating, Sequential Brands Group presently has a consensus rating of Buy and a consensus target price of $13.25.
Shares of Sequential Brands Group (NASDAQ:SQBG) traded up 0.3539% on Tuesday, hitting $8.3093. The company had a trading volume of 4,481 shares. Sequential Brands Group has a 12-month low of $5.37 and a 12-month high of $14.70. The company has a 50 day moving average of $7.56 and a 200-day moving average of $7.29. The company’s market cap is $517.00 million.
Sequential Brands Group (NASDAQ:SQBG) last announced its earnings results on Thursday, July 28th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ 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 had revenue of $34.20 million for the quarter, compared to analysts’ expectations of $31.23 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. The firm’s quarterly revenue was up 69.3% compared to the same quarter last year. On average, analysts forecast that Sequential Brands Group will post $0.45 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of SQBG. American International Group Inc. boosted its stake in shares of Sequential Brands Group by 8.1% in the second quarter. American International Group Inc. now owns 22,596 shares of the company’s stock worth $180,000 after buying an additional 1,701 shares in the last quarter. Icon Advisers Inc. Co. acquired a new stake in shares of Sequential Brands Group during the first quarter worth about $204,000. UBS Asset Management Americas Inc. boosted its stake in shares of Sequential Brands Group by 41.2% in the second quarter. UBS Asset Management Americas Inc. now owns 28,800 shares of the company’s stock worth $230,000 after buying an additional 8,400 shares in the last quarter. Miles Capital Inc. acquired a new stake in shares of Sequential Brands Group during the second quarter worth about $244,000. Finally, Citadel Advisors LLC boosted its stake in shares of Sequential Brands Group by 1.4% in the second quarter. Citadel Advisors LLC now owns 31,531 shares of the company’s stock worth $252,000 after buying an additional 436 shares in the last quarter. Institutional investors and hedge funds 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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