Guggenheim began coverage on shares of Iconix Brand Group Inc. (NASDAQ:ICON) in a note issued to investors on Friday, The Fly reports. The firm set a “neutral” rating on the stock.
Separately, Zacks Investment Research raised Iconix Brand Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $10.50.
Shares of Iconix Brand Group (NASDAQ:ICON) opened at 8.00 on Friday. The stock’s market capitalization is $449.01 million. Iconix Brand Group has a 52-week low of $4.67 and a 52-week high of $16.88. The company 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 earnings results on Thursday, August 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $97.02 million. During the same period in the previous year, the firm earned $0.45 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Iconix Brand Group will post $1.19 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake 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 valued at $101,000 after buying an additional 7,902 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Iconix Brand Group during the second quarter valued at $101,000. First Midwest Bank Trust Division raised its stake 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 valued at $108,000 after buying an additional 5,111 shares in the last quarter. Profund Advisors LLC raised its stake in Iconix Brand Group by 10.3% in the second quarter. Profund Advisors LLC now owns 16,194 shares of the company’s stock valued at $109,000 after buying an additional 1,518 shares in the last quarter. Finally, Acrospire Investment Management LLC raised its stake 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 valued at $124,000 after buying an additional 13,000 shares in the last quarter. Institutional investors own 80.08% of the company’s stock.
Iconix Brand Group Company Profile
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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