Iconix Brand Group Inc. (ICON) Shares Down 3.5%
Shares of Iconix Brand Group Inc. (NASDAQ:ICON) traded down 3.5% during trading on Monday . The stock traded as low as $8.62 and last traded at $8.77, with a volume of 350,243 shares changing hands. The stock had previously closed at $9.09.
Separately, Zacks Investment Research upgraded Iconix Brand Group from a “sell” rating to a “hold” rating in a report on Thursday, June 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Iconix Brand Group currently has an average rating of “Hold” and an average target price of $10.67.
The firm’s market cap is $493.35 million. The stock has a 50-day moving average price of $7.31 and a 200-day moving average price of $7.71.
Iconix Brand Group (NASDAQ:ICON) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.04. The business earned $95.70 million during the quarter, compared to the consensus estimate of $97.02 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. Iconix Brand Group’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Iconix Brand Group Inc. will post $1.19 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Iconix Brand Group stock. Schwab Charles Investment Management Inc. raised its position in Iconix Brand Group Inc. (NASDAQ:ICON) by 31.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,031 shares of the company’s stock after buying an additional 72,455 shares during the period. Schwab Charles Investment Management Inc. owned 0.62% of Iconix Brand Group worth $2,063,000 as of its most recent filing with the SEC.
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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