Iconix Brand Group Inc. (ICON) Stock Price Down 2.6%
Shares of Iconix Brand Group Inc. (NASDAQ:ICON) traded down 2.6% during mid-day trading on Tuesday . The company traded as low as $8.55 and last traded at $8.65, with a volume of 466,680 shares changing hands. The stock had previously closed at $8.88.
Separately, Zacks Investment Research raised Iconix Brand Group from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $10.67.
The stock’s market cap is $493.91 million. The firm’s 50-day moving average price is $7.19 and its 200 day moving average price is $7.69.
Iconix Brand Group (NASDAQ:ICON) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. During the same quarter in the previous year, the company earned $0.45 EPS. The company earned $95.70 million during the quarter, compared to analysts’ expectations of $97.02 million. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts anticipate that Iconix Brand Group Inc. will post $1.19 earnings per share for the current year.
A hedge fund recently raised its stake in Iconix Brand Group stock. Connor Clark & Lunn Investment Management Ltd. increased its position in Iconix Brand Group Inc. (NASDAQ:ICON) by 59.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 817,825 shares of the company’s stock after buying an additional 304,725 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.69% of Iconix Brand Group worth $5,586,000 at the end of the most recent reporting period.
Iconix Brand Group, Inc is a brand management company and owner of a diversified portfolio of 35 global consumer brands across women’s, men’s, entertainment and home. The Company’s brand portfolio includes Candie’s, Bongo, Badgley Mischka, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific (OP), Danskin, Rocawear, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Zoo York, Sharper Image, Umbro, Lee Cooper, Ecko Unltd., Marc Ecko and Strawberry Shortcake.
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