Analysts Set Iconix Brand Group, Inc. (ICON) Price Target at $10.17

Iconix Brand Group, Inc. (NASDAQ:ICON) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $10.17.

Several equities research analysts recently issued reports on ICON shares. FBR & Co restated an “outperform” rating and set a $8.50 price objective on shares of Iconix Brand Group in a research report on Tuesday, July 11th. Cowen and Company set a $9.00 price objective on shares of Iconix Brand Group and gave the stock a “hold” rating in a research report on Monday, August 14th. BidaskClub cut shares of Iconix Brand Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Iconix Brand Group from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Roth Capital set a $13.00 price objective on shares of Iconix Brand Group and gave the stock a “buy” rating in a research report on Thursday, May 11th.

Iconix Brand Group (ICON) traded down 1.96% during mid-day trading on Monday, hitting $5.00. 1,123,558 shares of the stock were exchanged. The stock’s market cap is $285.46 million. Iconix Brand Group has a 52-week low of $4.79 and a 52-week high of $10.80. The stock’s 50 day moving average is $6.30 and its 200 day moving average is $7.11.

Iconix Brand Group (NASDAQ:ICON) last released its quarterly earnings data on Wednesday, August 9th. The brand management company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.09. Iconix Brand Group had a negative net margin of 82.22% and a positive return on equity of 10.38%. The firm had revenue of $64.60 million during the quarter, compared to analysts’ expectations of $61 million. During the same period last year, the business earned $0.27 earnings per share. Iconix Brand Group’s revenue was down 32.5% compared to the same quarter last year. Analysts forecast that Iconix Brand Group will post $0.67 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in ICON. Vanguard Group Inc. boosted its stake in shares of Iconix Brand Group by 8.4% in the second quarter. Vanguard Group Inc. now owns 6,204,245 shares of the brand management company’s stock worth $42,871,000 after buying an additional 481,845 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Iconix Brand Group by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,741,989 shares of the brand management company’s stock worth $35,659,000 after buying an additional 501,393 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in shares of Iconix Brand Group by 7.2% in the second quarter. Van Berkom & Associates Inc. now owns 2,695,624 shares of the brand management company’s stock worth $18,627,000 after buying an additional 180,723 shares in the last quarter. State Street Corp boosted its stake in shares of Iconix Brand Group by 1.7% in the second quarter. State Street Corp now owns 1,304,008 shares of the brand management company’s stock worth $9,015,000 after buying an additional 22,222 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Iconix Brand Group by 8.8% in the second quarter. Northern Trust Corp now owns 1,020,317 shares of the brand management company’s stock worth $7,051,000 after buying an additional 82,924 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

About Iconix Brand Group

Iconix Brand Group, Inc is a brand management company. As of December 31, 2016, the Company owned a portfolio of over 30 global consumer brands across women’s, men’s, and home categories. The Company operates through segments: men’s, women’s, home and international. 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 and Artful Dodger, and interests in Material Girl, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.