Sequential Brands Group, Inc. (SQBG) Receives $8.20 Average Price Target from Analysts

Shares of Sequential Brands Group, Inc. (NASDAQ:SQBG) have been given a consensus rating of “Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $8.20.

A number of analysts have issued reports on SQBG shares. Cowen and Company reaffirmed a “hold” rating and set a $6.00 price target on shares of Sequential Brands Group in a report on Thursday, September 28th. ValuEngine raised Sequential Brands Group from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Roth Capital set a $4.00 price target on Sequential Brands Group and gave the stock a “buy” rating in a report on Friday, July 28th. Zacks Investment Research downgraded Sequential Brands Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $7.00 price target on shares of Sequential Brands Group in a report on Tuesday, July 11th.

Several institutional investors and hedge funds have recently bought and sold shares of SQBG. Goldman Sachs Group Inc. increased its position in shares of Sequential Brands Group by 1,114.2% during the second quarter. Goldman Sachs Group Inc. now owns 2,363,853 shares of the textile maker’s stock worth $9,432,000 after purchasing an additional 2,169,169 shares in the last quarter. Financial & Investment Management Group Ltd. acquired a new stake in shares of Sequential Brands Group during the second quarter worth about $2,106,000. Citadel Advisors LLC increased its position in shares of Sequential Brands Group by 1,946.0% during the first quarter. Citadel Advisors LLC now owns 247,735 shares of the textile maker’s stock worth $964,000 after purchasing an additional 235,627 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Sequential Brands Group during the second quarter worth about $407,000. Finally, Vanguard Group Inc. increased its position in shares of Sequential Brands Group by 3.9% during the second quarter. Vanguard Group Inc. now owns 1,626,499 shares of the textile maker’s stock worth $6,489,000 after purchasing an additional 61,722 shares in the last quarter. Institutional investors and hedge funds own 51.90% of the company’s stock.

Shares of Sequential Brands Group (SQBG) traded up 0.73% on Friday, reaching $2.75. The company had a trading volume of 94,439 shares. Sequential Brands Group has a 52 week low of $2.55 and a 52 week high of $8.31. The company has a 50 day moving average of $2.88 and a 200-day moving average of $3.27. The company has a market capitalization of $172.93 million, a P/E ratio of 101.85 and a beta of 0.67.

Sequential Brands Group (NASDAQ:SQBG) last announced its quarterly earnings results on Thursday, July 27th. The textile maker reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. The company had revenue of $42.10 million during the quarter, compared to the consensus estimate of $39.15 million. Sequential Brands Group had a return on equity of 1.29% and a net margin of 0.99%. Sequential Brands Group’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. Analysts predict that Sequential Brands Group will post $0.52 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Sequential Brands Group (NASDAQ:SQBG)

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