Sequential Brands Group, Inc. (SQBG) Given a $3.00 Price Target at Roth Capital
Sequential Brands Group, Inc. (NASDAQ:SQBG) has been given a $3.00 price target by stock analysts at Roth Capital in a note issued to investors on Monday. The firm currently has a “buy” rating on the textile maker’s stock. Roth Capital’s price target would suggest a potential upside of 12.78% from the stock’s previous close.
A number of other research analysts have also recently commented on SQBG. CL King cut shares of Sequential Brands Group from a “buy” rating to a “neutral” rating in a report on Wednesday, June 28th. ValuEngine upgraded shares of Sequential Brands Group from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. FBR & Co reiterated an “outperform” rating and set a $7.00 target price on shares of Sequential Brands Group in a report on Tuesday, July 11th. Zacks Investment Research cut shares of Sequential Brands Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Canaccord Genuity set a $6.00 target price on shares of Sequential Brands Group and gave the stock a “buy” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $8.00.
Shares of Sequential Brands Group (NASDAQ:SQBG) traded down 5.67% during midday trading on Monday, hitting $2.66. 213,822 shares of the stock were exchanged. The firm has a 50 day moving average of $2.84 and a 200-day moving average of $3.21. Sequential Brands Group has a 12 month low of $2.55 and a 12 month high of $7.50. The stock has a market cap of $167.27 million, a P/E ratio of 98.52 and a beta of 0.67.
Sequential Brands Group (NASDAQ:SQBG) last posted its quarterly earnings results on Thursday, July 27th. The textile maker reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. The firm had revenue of $42.10 million for the quarter, compared to analysts’ expectations of $39.15 million. Sequential Brands Group had a net margin of 0.99% and a return on equity of 1.29%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. Equities research analysts anticipate that Sequential Brands Group will post $0.52 EPS for the current year.
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Several large investors have recently added to or reduced their stakes in SQBG. Goldman Sachs Group Inc. boosted its holdings in shares of Sequential Brands Group by 1,114.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,363,853 shares of the textile maker’s stock valued at $9,432,000 after buying an additional 2,169,169 shares in the last quarter. Financial & Investment Management Group Ltd. bought a new stake in shares of Sequential Brands Group in the 2nd quarter valued at about $2,106,000. Citadel Advisors LLC boosted its holdings in shares of Sequential Brands Group by 1,946.0% in the 1st quarter. Citadel Advisors LLC now owns 247,735 shares of the textile maker’s stock valued at $964,000 after buying an additional 235,627 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of Sequential Brands Group in the 2nd quarter valued at about $407,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Sequential Brands Group by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,626,499 shares of the textile maker’s stock valued at $6,489,000 after buying an additional 61,722 shares in the last quarter. Institutional investors and hedge funds own 52.10% 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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