Roth Capital Reiterates $13.00 Price Target for Iconix Brand Group, Inc. (ICON)

Iconix Brand Group, Inc. (NASDAQ:ICON) has been given a $13.00 price target by equities research analysts at Roth Capital in a research report issued on Thursday, May 11th. The firm presently has a “buy” rating on the brand management company’s stock. Roth Capital’s price target indicates a potential upside of 98.78% from the stock’s current price.

Separately, Zacks Investment Research downgraded Iconix Brand Group from a “hold” rating to a “strong sell” rating in a research report on Friday, January 13th.

Iconix Brand Group (NASDAQ ICON) opened at 6.54 on Thursday. The stock’s 50 day moving average price is $6.51 and its 200 day moving average price is $8.10. The stock’s market cap is $373.18 million. Iconix Brand Group has a 12-month low of $5.91 and a 12-month high of $10.80.

Iconix Brand Group (NASDAQ:ICON) last issued its quarterly earnings data on Wednesday, May 10th. The brand management company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Iconix Brand Group had a negative net margin of 82.70% and a positive return on equity of 9.27%. The company had revenue of $58.72 million during the quarter, compared to analysts’ expectations of $89.34 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. The firm’s revenue was down 11.1% compared to the same quarter last year. Analysts forecast that Iconix Brand Group will post $0.78 EPS for the current fiscal year.

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Hedge funds have recently modified their holdings of the stock. Loews Corp increased its stake in shares of Iconix Brand Group by 0.4% in the first quarter. Loews Corp now owns 24,801 shares of the brand management company’s stock valued at $187,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of 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. New York State Teachers Retirement System increased its position in Iconix Brand Group by 0.3% in the fourth quarter. New York State Teachers Retirement System now owns 117,436 shares of the brand management company’s stock valued at $1,097,000 after buying an additional 300 shares during the period. Arizona State Retirement System increased its position in Iconix Brand Group by 1.4% in the first quarter. Arizona State Retirement System now owns 29,260 shares of the brand management company’s stock valued at $220,000 after buying an additional 400 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its position in Iconix Brand Group by 0.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 52,971 shares of the brand management company’s stock valued at $398,000 after buying an additional 477 shares during the period. Institutional investors and hedge funds own 84.26% 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, home and entertainment categories. The Company operates through five segments: men’s, women’s, home, entertainment and international. The Company’s brand portfolio includes brands, such as Bongo, Badgley Mischka, Buffalo David Bitton, Candie’s, Cannon, Charisma, Danskin, Don Ed Hardy, EckĊ Unltd., Fieldcrest, Joe Boxer, Lee Cooper, London Fog, Marc Ecko Cut & Sew, Mossimo, Mudd, Ocean Pacific, Pony International, Rampage, Royal Velvet, Rocawear, Sandra Lee, The Sharper Image, Starter, Umbro, Waverly, and Zoo York.

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