Iconix Brand Group, Inc. (NASDAQ:ICON)‘s stock had its “buy” rating reiterated by equities research analysts at FBR & Co in a research report issued on Thursday, September 14th. They presently have a $8.50 price target on the brand management company’s stock. FBR & Co’s price objective suggests a potential upside of 57.99% from the stock’s current price.
The analysts wrote, “We are reiterating our Buy rating, estimates, and $8.50 price target on ICON after meeting with Iconix management. With financial pressures basically cured for the near term and the company focused on driving organic revenue growth and new licensing agreements for key brands, we believe that ICON, trading under 8.5x our somewhat conservative 2018 EPS projection, represents a compelling investment in the current management team and a shifting business model that still provides material visibility and free cash flow. We also believe that, as the company moves key brands to new homes, investors will view the perceived risks to the business model as shrinking and drive higher valuations.””
A number of other research analysts have also recently commented on the company. Cowen and Company set a $9.00 price target on Iconix Brand Group and gave the stock a “hold” rating in a research note on Monday, August 14th. BidaskClub cut Iconix Brand Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research upgraded Iconix Brand Group from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.13.
Iconix Brand Group (ICON) traded up 0.19% on Thursday, reaching $5.38. The company’s stock had a trading volume of 302,339 shares. Iconix Brand Group has a one year low of $4.79 and a one year high of $10.80. The stock’s market cap is $307.15 million. The stock has a 50-day moving average of $5.65 and a 200-day moving average of $6.55.
Iconix Brand Group (NASDAQ:ICON) last released its quarterly earnings results on Wednesday, August 9th. The brand management company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. Iconix Brand Group had a positive return on equity of 10.38% and a negative net margin of 82.22%. The company had revenue of $64.60 million for the quarter, compared to analysts’ expectations of $61.00 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was down 32.5% compared to the same quarter last year. On average, analysts predict that Iconix Brand Group will post $0.67 EPS for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of ICON. Louisiana State Employees Retirement System raised its stake in Iconix Brand Group by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the brand management company’s stock valued at $172,000 after buying an additional 300 shares in the last quarter. Wells Fargo & Company MN raised its stake in Iconix Brand Group by 454.7% in the first quarter. Wells Fargo & Company MN now owns 103,814 shares of the brand management company’s stock valued at $781,000 after buying an additional 85,098 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in Iconix Brand Group in the first quarter valued at $108,000. BNP Paribas Arbitrage SA raised its stake in Iconix Brand Group by 5.1% in the first quarter. BNP Paribas Arbitrage SA now owns 17,899 shares of the brand management company’s stock valued at $135,000 after buying an additional 865 shares in the last quarter. Finally, Comerica Bank raised its stake in Iconix Brand Group by 3.7% in the first quarter. Comerica Bank now owns 61,520 shares of the brand management company’s stock valued at $460,000 after buying an additional 2,209 shares in the last quarter. Institutional investors own 82.89% 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, 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.
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