Sequential Brands Group, Inc. (SQBG) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Sequential Brands Group, Inc. (NASDAQ:SQBG) from a hold rating to a sell rating in a research note released on Thursday morning.

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. “



Several other research analysts have also issued reports on SQBG. CL King lowered shares of Sequential Brands Group from a buy rating to a neutral rating in a research report on Wednesday, June 28th. ValuEngine upgraded shares of Sequential Brands Group from a hold rating to a buy rating in a research report on Thursday, July 6th. FBR & Co restated an outperform rating and issued a $7.00 price target on shares of Sequential Brands Group in a research report on Tuesday, July 11th. Canaccord Genuity set a $6.00 price target on shares of Sequential Brands Group and gave the stock a buy rating in a research report on Thursday, July 27th. Finally, Cowen and Company set a $6.00 price target on shares of Sequential Brands Group and gave the stock a hold rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $8.00.

Shares of Sequential Brands Group (NASDAQ:SQBG) traded down 3.03% during midday trading on Thursday, hitting $2.56. The stock had a trading volume of 178,876 shares. The company has a market cap of $160.99 million, a P/E ratio of 94.81 and a beta of 0.67. Sequential Brands Group has a one year low of $2.53 and a one year high of $7.33. The firm has a 50 day moving average of $2.83 and a 200-day moving average of $3.20.

Sequential Brands Group (NASDAQ:SQBG) last posted its quarterly earnings results on Thursday, July 27th. The textile maker reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The firm had revenue of $42.10 million for the quarter, compared to analyst estimates of $39.15 million. Sequential Brands Group had a net margin of 0.99% and a return on equity of 1.29%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. On average, analysts forecast that Sequential Brands Group will post $0.52 earnings per share for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of SQBG. Voya Investment Management LLC boosted its stake in Sequential Brands Group by 37.6% in the 2nd quarter. Voya Investment Management LLC now owns 25,485 shares of the textile maker’s stock worth $102,000 after purchasing an additional 6,958 shares during the period. Wells Fargo & Company MN boosted its stake in Sequential Brands Group by 15.3% in the 1st quarter. Wells Fargo & Company MN now owns 41,404 shares of the textile maker’s stock worth $161,000 after purchasing an additional 5,482 shares during the period. Rhumbline Advisers boosted its stake in Sequential Brands Group by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 47,762 shares of the textile maker’s stock worth $191,000 after purchasing an additional 1,780 shares during the period. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in Sequential Brands Group in the 2nd quarter worth approximately $200,000. Finally, Teachers Advisors LLC boosted its stake in Sequential Brands Group by 11.5% in the 2nd quarter. Teachers Advisors LLC now owns 77,412 shares of the textile maker’s stock worth $309,000 after purchasing an additional 7,958 shares during the period. 52.10% of the stock is owned by hedge funds and other institutional investors.

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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