Iconix Brand Group Inc. (ICON) Earns Neutral Rating from Analysts at Guggenheim
Separately, Zacks Investment Research upgraded shares of Iconix Brand Group from a hold rating to a buy rating and set a $10.00 target price on the stock in a research report on Tuesday, August 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $10.50.
Iconix Brand Group (NASDAQ:ICON) opened at 8.54 on Friday. Iconix Brand Group has a 52-week low of $4.67 and a 52-week high of $16.88. The company’s market cap is $479.32 million. The company has a 50-day moving average of $8.39 and a 200 day moving average of $7.81.
Iconix Brand Group (NASDAQ:ICON) last announced its earnings results on Thursday, August 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.04. Iconix Brand Group had a negative net margin of 63.95% and a positive return on equity of 7.26%. The firm had revenue of $95.70 million for the quarter, compared to analyst estimates of $97.02 million. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. Equities research analysts predict that Iconix Brand Group will post $1.17 EPS for the current year.
Several hedge funds have recently bought and sold shares of ICON. Ariose Capital Management Ltd purchased a new stake in Iconix Brand Group during the second quarter valued at about $2,705,000. Prudential Financial Inc. raised its stake in Iconix Brand Group by 113.4% in the second quarter. Prudential Financial Inc. now owns 672,949 shares of the company’s stock valued at $4,549,000 after buying an additional 357,657 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Iconix Brand Group during the first quarter valued at about $2,211,000. Nationwide Fund Advisors raised its stake in Iconix Brand Group by 616.9% in the second quarter. Nationwide Fund Advisors now owns 269,238 shares of the company’s stock valued at $1,820,000 after buying an additional 231,683 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Iconix Brand Group by 3.1% in the second quarter. Vanguard Group Inc. now owns 3,655,587 shares of the company’s stock valued at $24,712,000 after buying an additional 108,604 shares in the last quarter. Institutional investors and hedge funds own 80.08% of the company’s stock.
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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