Iconix Brand Group Inc. (ICON) Receives New Coverage from Analysts at Guggenheim
Separately, Zacks Investment Research raised shares of Iconix Brand Group from a hold rating to a buy rating and set a $9.50 price objective for the company in a report on Wednesday, August 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $10.50.
Iconix Brand Group (NASDAQ:ICON) traded down 0.74% during mid-day trading on Friday, reaching $8.06. 45,619 shares of the company traded hands. The stock’s 50 day moving average price is $8.41 and its 200 day moving average price is $7.81. The firm’s market capitalization is $452.38 million. Iconix Brand Group has a 52 week low of $4.67 and a 52 week high of $16.88.
Iconix Brand Group (NASDAQ:ICON) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The firm earned $95.70 million during the quarter, compared to the consensus estimate of $97.02 million. Iconix Brand Group had a negative net margin of 63.95% and a positive return on equity of 7.26%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. Equities analysts forecast that Iconix Brand Group will post $1.17 EPS for the current year.
Large investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake 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 in the last quarter. Schwab Charles Investment Management Inc. boosted its stake 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 valued at $3,016,000 after buying an additional 78,841 shares during the period. Arizona State Retirement System boosted its stake 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 valued at $170,000 after buying an additional 300 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of Iconix Brand Group during the second quarter valued at approximately $423,000. Finally, Guggenheim Capital LLC boosted its stake 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 valued at $1,734,000 after buying an additional 8,902 shares during the period. Institutional investors and hedge funds own 80.08% of the company’s stock.
About Iconix Brand Group
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.
Receive News & Stock Ratings for Iconix Brand Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iconix Brand Group Inc. and related stocks with our FREE daily email newsletter.