Roth Capital Lowers Iconix Brand Group, Inc. (ICON) to Neutral

Iconix Brand Group, Inc. (NASDAQ:ICON) was downgraded by Roth Capital from a “buy” rating to a “neutral” rating in a research note issued on Monday. They currently have a $2.00 price target on the brand management company’s stock. Roth Capital’s price objective indicates a potential upside of 21.95% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. FBR & Co restated an “outperform” rating and set a $8.50 target price on shares of Iconix Brand Group in a report on Wednesday, August 9th. Zacks Investment Research upgraded Iconix Brand Group from a “sell” rating to a “hold” rating in a report on Monday, July 17th. BidaskClub upgraded Iconix Brand Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Sidoti assumed coverage on Iconix Brand Group in a report on Tuesday, September 19th. They set a “neutral” rating and a $6.00 target price on the stock. Finally, Cowen and Company set a $9.00 target price on Iconix Brand Group and gave the stock a “hold” rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.00.

Shares of Iconix Brand Group (ICON) traded up 21.95% during trading on Monday, hitting $2.00. 15,494,266 shares of the stock traded hands. The firm’s 50-day moving average price is $5.24 and its 200-day moving average price is $6.09. The company’s market cap is $114.18 million. Iconix Brand Group has a 52 week low of $1.53 and a 52 week high of $10.80.

Iconix Brand Group (NASDAQ:ICON) last announced its earnings results on Wednesday, August 9th. The brand management company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.17 by $0.09. The company had revenue of $64.60 million for the quarter, compared to analysts’ expectations of $61.00 million. Iconix Brand Group had a positive return on equity of 10.38% and a negative net margin of 82.22%. The business’s revenue for the quarter was down 32.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. On average, equities research analysts anticipate that Iconix Brand Group will post $0.67 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in 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 valued at $42,871,000 after acquiring an additional 481,845 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 valued at $35,659,000 after acquiring an additional 501,393 shares during the last quarter. Van Berkom & Associates Inc. boosted its holdings in 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 valued at $18,627,000 after acquiring an additional 180,723 shares during the last quarter. State Street Corp boosted its holdings in 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 valued at $9,015,000 after acquiring an additional 22,222 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP boosted its holdings in Iconix Brand Group by 57.2% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 1,190,598 shares of the brand management company’s stock valued at $6,775,000 after acquiring an additional 433,018 shares during the last quarter. Institutional investors and hedge funds own 83.56% 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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