Iconix Brand Group Inc. (NASDAQ:ICON) Receives $9.75 Consensus Price Target from Analysts
Iconix Brand Group Inc. (NASDAQ:ICON) has been given an average rating of “Hold” by the six ratings firms that are currently covering the company. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $9.75.
Separately, Zacks Investment Research raised Iconix Brand Group from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Wednesday, August 31st.
Iconix Brand Group (NASDAQ:ICON) opened at 8.00 on Tuesday. Iconix Brand Group has a 52 week low of $4.67 and a 52 week high of $16.88. The stock’s market cap is $449.01 million. The firm has a 50-day moving average price of $8.41 and a 200-day moving average price of $7.81.
Iconix Brand Group (NASDAQ:ICON) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. Iconix Brand Group had a positive return on equity of 7.26% and a negative net margin of 63.95%. The firm had revenue of $95.70 million for the quarter, compared to the consensus estimate of $97.02 million. During the same quarter 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. On average, equities research analysts predict that Iconix Brand Group will post $1.19 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of ICON. BNP Paribas Arbitrage SA increased its position in Iconix Brand Group by 111.9% in the second quarter. BNP Paribas Arbitrage SA now owns 14,962 shares of the company’s stock worth $101,000 after buying an additional 7,902 shares during the period. Summit Securities Group LLC bought a new position in Iconix Brand Group during the second quarter worth $101,000. First Midwest Bank Trust Division increased its position in Iconix Brand Group by 47.0% in the second quarter. First Midwest Bank Trust Division now owns 15,993 shares of the company’s stock worth $108,000 after buying an additional 5,111 shares during the period. Profund Advisors LLC increased its position in Iconix Brand Group by 10.3% in the second quarter. Profund Advisors LLC now owns 16,194 shares of the company’s stock worth $109,000 after buying an additional 1,518 shares during the period. Finally, Acrospire Investment Management LLC increased its position in Iconix Brand Group by 245.3% in the second quarter. Acrospire Investment Management LLC now owns 18,300 shares of the company’s stock worth $124,000 after buying an additional 13,000 shares during the period. 80.08% of the stock is currently owned by institutional investors.
About Iconix Brand Group
Iconix Brand Group, Inc is a brand management company. The Company owns a diversified portfolio of over 35 global consumer brands across women’s, men’s, home and entertainment categories. The Company operates through five segments: men’s, women’s, home, entertainment and corporate. 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, Strawberry Shortcake and Artful Dodger, and interests in Material Girl, Peanuts, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.
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