Iconix Brand Group Inc. (NASDAQ:ICON) Receives $9.75 Consensus Price Target from Analysts
Shares of Iconix Brand Group Inc. (NASDAQ:ICON) have earned an average recommendation of “Hold” from the six research firms that are presently covering the company. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.75.
Separately, Zacks Investment Research downgraded Iconix Brand Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 8th.
Iconix Brand Group (NASDAQ:ICON) opened at 8.00 on Tuesday. The stock’s market capitalization is $449.01 million. The stock has a 50 day moving average price of $8.41 and a 200-day moving average price of $7.81. Iconix Brand Group has a 12-month low of $4.67 and a 12-month high of $16.88.
Iconix Brand Group (NASDAQ:ICON) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.04. Iconix Brand Group had a positive return on equity of 7.26% and a negative net margin of 63.95%. The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $97.02 million. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities research analysts expect that Iconix Brand Group will post $1.19 EPS for the current year.
Several institutional investors have recently modified their holdings of ICON. Royal Bank of Canada boosted its position in shares of Iconix Brand Group by 72.8% in the second quarter. Royal Bank of Canada now owns 90,376 shares of the company’s stock worth $612,000 after buying an additional 38,076 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Iconix Brand Group by 21.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 446,047 shares of the company’s stock worth $3,016,000 after buying an additional 78,841 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Iconix Brand Group by 1.2% in the second quarter. Arizona State Retirement System now owns 25,160 shares of the company’s stock worth $170,000 after buying an additional 300 shares during the last quarter. Highbridge Capital Management LLC bought a new position in shares of Iconix Brand Group during the second quarter worth about $423,000. Finally, Guggenheim Capital LLC boosted its position in shares of Iconix Brand Group by 3.6% in the second quarter. Guggenheim Capital LLC now owns 256,470 shares of the company’s stock worth $1,734,000 after buying an additional 8,902 shares during the last quarter. Institutional investors and hedge funds own 80.08% of the company’s stock.
Iconix Brand Group Company Profile
Iconix Brand Group, Inc is a brand management company. The Company owns a diversified portfolio of over 35 global consumer brands across women’s, men’s, home and entertainment categories. The Company operates through five segments: men’s, women’s, home, entertainment and corporate. The Company’s brand portfolio includes brands, such as Candie’s, Bongo, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific/OP, Danskin/Danskin Now, Rocawear/Roc Nation, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Ecko Unltd/Mark Ecko Cut & Sew, Zoo York, Sharper Image, Umbro, Lee Cooper, Strawberry Shortcake and Artful Dodger, and interests in Material Girl, Peanuts, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.
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