Sequential Brands Group Inc. (NASDAQ:SQBG) has been assigned a $18.00 price target by stock analysts at Canaccord Genuity in a research report issued to clients and investors on Wednesday. The brokerage presently has a a “buy” rating on the stock. Canaccord Genuity’s price target indicates a potential upside of 122.77% from the stock’s current price.
A number of other research analysts also recently issued reports on SQBG. Piper Jaffray Cos. reiterated a “buy” rating and set a $11.00 price objective on shares of Sequential Brands Group in a report on Tuesday, June 14th. Brean Capital initiated coverage on Sequential Brands Group in a report on Tuesday, June 21st. They set a “buy” rating and a $16.00 price objective for the company. Finally, Zacks Investment Research downgraded Sequential Brands Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Sequential Brands Group presently has an average rating of “Buy” and an average target price of $13.25.
Sequential Brands Group (NASDAQ:SQBG) opened at 8.08 on Wednesday. The stock’s 50 day moving average price is $7.46 and its 200-day moving average price is $7.25. Sequential Brands Group has a one year low of $5.37 and a one year high of $15.01. The firm’s market capitalization is $502.74 million.
Sequential Brands Group (NASDAQ:SQBG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. The business earned $34.20 million during the quarter, compared to the consensus estimate of $31.23 million. Sequential Brands Group had a positive return on equity of 4.59% and a negative net margin of 3.37%. Sequential Brands Group’s quarterly revenue was up 69.3% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share. On average, equities research analysts expect that Sequential Brands Group will post $0.45 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Group LTD increased its position 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 in the last quarter. Boston Advisors LLC bought a new position in Sequential Brands Group during the first quarter worth $474,000. Falcon Point Capital LLC increased its position in Sequential Brands Group by 12.5% in the second quarter. Falcon Point Capital LLC now owns 154,625 shares of the company’s stock worth $1,234,000 after buying an additional 17,183 shares in the last quarter. Boston Partners increased its position in Sequential Brands Group by 14.6% in the second quarter. Boston Partners now owns 1,260,910 shares of the company’s stock worth $10,062,000 after buying an additional 160,940 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Sequential Brands Group by 18.2% in the first quarter. JPMorgan Chase & Co. now owns 761,082 shares of the company’s stock worth $4,863,000 after buying an additional 116,986 shares in the last quarter. Hedge funds and other 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.
Receive News & Ratings for Sequential Brands Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sequential Brands Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.