Iconix Brand Group, Inc. (ICON) Receives $10.17 Consensus PT from Analysts
Iconix Brand Group, Inc. (NASDAQ:ICON) has received a consensus rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $10.17.
Several equities research analysts recently weighed in on the company. BidaskClub downgraded Iconix Brand Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research raised Iconix Brand Group from a “sell” rating to a “hold” rating in a report on Monday, July 17th. FBR & Co reissued an “outperform” rating and set a $8.50 price objective on shares of Iconix Brand Group in a report on Tuesday, July 11th. Finally, Cowen and Company set a $9.00 price objective on Iconix Brand Group and gave the company a “hold” rating in a report on Monday, August 14th.
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Shares of Iconix Brand Group (ICON) traded up 1.10% during trading on Friday, hitting $5.53. The stock had a trading volume of 366,166 shares. The stock has a 50 day moving average price of $5.85 and a 200-day moving average price of $6.67. The stock’s market capitalization is $315.71 million. Iconix Brand Group has a one year low of $4.79 and a one year high of $10.80.
Iconix Brand Group (NASDAQ:ICON) last released its quarterly earnings data 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 the consensus estimate of $61 million. During the same quarter last year, the business posted $0.27 EPS. Iconix Brand Group’s revenue for the quarter was down 32.5% on a year-over-year basis. On average, equities research analysts predict that Iconix Brand Group will post $0.67 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in ICON. Louisiana State Employees Retirement System lifted its holdings in Iconix Brand Group by 1.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the brand management company’s stock worth $172,000 after buying an additional 300 shares during the period. Wells Fargo & Company MN lifted its holdings in Iconix Brand Group by 454.7% during the 1st quarter. Wells Fargo & Company MN now owns 103,814 shares of the brand management company’s stock worth $781,000 after buying an additional 85,098 shares during the period. Capital Fund Management S.A. acquired a new position in Iconix Brand Group during the 1st quarter worth about $108,000. BNP Paribas Arbitrage SA lifted its holdings in Iconix Brand Group by 5.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 17,899 shares of the brand management company’s stock worth $135,000 after buying an additional 865 shares during the period. Finally, Comerica Bank lifted its holdings in Iconix Brand Group by 3.7% during the 1st quarter. Comerica Bank now owns 61,520 shares of the brand management company’s stock worth $460,000 after buying an additional 2,209 shares during the period. 82.89% of the stock is currently owned by hedge funds and other institutional investors.
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, 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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