Iconix Brand Group, Inc. (ICON) Hits New 52-Week Low at $5.30
Iconix Brand Group, Inc. (NASDAQ:ICON)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $5.30 and last traded at $5.30, with a volume of 436,944 shares changing hands. The stock had previously closed at $5.55.
ICON has been the subject of a number of research analyst reports. FBR & Co reaffirmed an “outperform” rating and set a $8.50 price objective on shares of Iconix Brand Group in a research report on Wednesday, August 9th. Zacks Investment Research raised Iconix Brand Group from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Roth Capital set a $13.00 target price on Iconix Brand Group and gave the stock a “buy” rating in a report on Thursday, May 11th. BidaskClub raised Iconix Brand Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Cowen and Company set a $9.00 price target on Iconix Brand Group and gave the company a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.00.
The firm’s market cap is $302.42 million. The stock’s 50-day moving average is $6.40 and its 200 day moving average is $7.16.
Iconix Brand Group (NASDAQ:ICON) last released its quarterly earnings results on Wednesday, August 9th. The brand management company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.09. Iconix Brand Group had a positive return on equity of 10.38% and a negative net margin of 82.22%. The company had revenue of $64.60 million for the quarter, compared to analyst estimates of $61 million. During the same period in the previous year, the company posted $0.27 earnings per share. The firm’s revenue was down 32.5% on a year-over-year basis. On average, equities research analysts anticipate that Iconix Brand Group, Inc. will post $0.67 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Iconix Brand Group by 30.4% in the first quarter. Vanguard Group Inc. now owns 5,722,400 shares of the brand management company’s stock valued at $43,032,000 after buying an additional 1,335,032 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in Iconix Brand Group by 32.9% in the first quarter. Van Berkom & Associates Inc. now owns 2,514,901 shares of the brand management company’s stock worth $18,912,000 after buying an additional 622,250 shares during the period. Dimensional Fund Advisors LP boosted its stake in Iconix Brand Group by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,741,989 shares of the brand management company’s stock worth $35,659,000 after buying an additional 501,393 shares during the period. First Manhattan Co. boosted its stake in Iconix Brand Group by 580.9% in the second quarter. First Manhattan Co. now owns 169,375 shares of the brand management company’s stock worth $1,170,000 after buying an additional 144,500 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Iconix Brand Group during the second quarter worth approximately $842,000. Institutional investors and hedge funds own 83.58% of the company’s stock.
About Iconix Brand Group
Iconix Brand Group, Inc is a brand management company. As of December 31, 2016, the Company owned a portfolio of over 30 global consumer brands across women’s, men’s, and home categories. The Company operates through segments: men’s, women’s, home and international. 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 and Artful Dodger, and interests in Material Girl, 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.