FBR & Co Reiterates Outperform Rating for Iconix Brand Group, Inc. (ICON)
Iconix Brand Group, Inc. (NASDAQ:ICON)‘s stock had its “outperform” rating restated by equities researchers at FBR & Co in a note issued to investors on Wednesday, August 9th. They presently have a $8.50 target price on the brand management company’s stock. FBR & Co’s price target suggests a potential upside of 70.00% from the company’s current price.
A number of other research analysts also recently issued reports on the company. BidaskClub downgraded Iconix Brand Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded Iconix Brand Group from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Finally, Roth Capital set a $13.00 price objective on Iconix Brand Group and gave the company a “buy” rating in a research note on Thursday, May 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.00.
Iconix Brand Group (NASDAQ ICON) traded down 1.96% during trading on Wednesday, reaching $5.00. 1,123,558 shares of the company traded hands. The company’s 50-day moving average price is $6.30 and its 200 day moving average price is $7.11. The firm’s market capitalization is $285.46 million. Iconix Brand Group has a 52 week low of $4.79 and a 52 week high of $10.80.
Iconix Brand Group (NASDAQ:ICON) last announced its quarterly earnings data on Wednesday, August 9th. The brand management company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.09. The company had revenue of $64.60 million during the quarter, compared to the consensus estimate of $61 million. Iconix Brand Group had a positive return on equity of 10.38% and a negative net margin of 82.22%. The firm’s revenue was down 32.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. On average, equities research analysts expect that Iconix Brand Group will post $0.67 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of ICON. Brandes Investment Partners LP boosted its position in Iconix Brand Group by 20.2% in the first quarter. Brandes Investment Partners LP now owns 13,378 shares of the brand management company’s stock worth $101,000 after buying an additional 2,248 shares in the last quarter. Capital Fund Management S.A. acquired a new position in Iconix Brand Group during the first quarter worth approximately $108,000. Cubist Systematic Strategies LLC boosted its position in Iconix Brand Group by 20.8% in the second quarter. Cubist Systematic Strategies LLC now owns 16,258 shares of the brand management company’s stock worth $112,000 after buying an additional 2,797 shares in the last quarter. First Midwest Bank Trust Division boosted its position in Iconix Brand Group by 4.3% in the first quarter. First Midwest Bank Trust Division now owns 16,360 shares of the brand management company’s stock worth $123,000 after buying an additional 667 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Iconix Brand Group by 11.1% in the first quarter. Public Employees Retirement System of Ohio now owns 16,993 shares of the brand management company’s stock worth $128,000 after buying an additional 1,691 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.
Iconix Brand Group Company Profile
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.
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