Iconix Brand Group Inc. (ICON) Trading Up 2.2%
Shares of Iconix Brand Group Inc. (NASDAQ:ICON) were up 2.2% during mid-day trading on Friday . The stock traded as high as $9.10 and last traded at $9.01, with a volume of 420,332 shares. The stock had previously closed at $8.82.
Separately, Zacks Investment Research upgraded Iconix Brand Group from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Iconix Brand Group presently has an average rating of “Hold” and a consensus target price of $10.67.
The firm’s 50 day moving average is $7.25 and its 200 day moving average is $7.69. The firm’s market capitalization is $506.82 million.
Iconix Brand Group (NASDAQ:ICON) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The firm earned $95.70 million during the quarter, compared to analyst estimates of $97.02 million. During the same period in the prior year, the business earned $0.45 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts forecast that Iconix Brand Group Inc. will post $1.19 earnings per share for the current year.
An institutional investor recently raised its position in Iconix Brand Group stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Iconix Brand Group Inc. (NASDAQ:ICON) by 59.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 1.69% of Iconix Brand Group worth $5,586,000 at the end of the most recent quarter.
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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