Iconix Brand Group, Inc. (ICON) Receives Average Recommendation of “Hold” from Brokerages

Iconix Brand Group, Inc. (NASDAQ:ICON) has received a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $5.00.

A number of research firms recently issued reports on ICON. FBR & Co lowered Iconix Brand Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $8.50 to $4.00 in a research note on Monday, October 30th. ValuEngine upgraded Iconix Brand Group from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Roth Capital restated a “neutral” rating on shares of Iconix Brand Group in a research report on Tuesday, October 31st. B. Riley restated a “neutral” rating and set a $4.00 target price (down from $8.50) on shares of Iconix Brand Group in a research report on Wednesday, November 1st. Finally, Zacks Investment Research cut Iconix Brand Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th.

A number of institutional investors have recently bought and sold shares of ICON. ING Groep NV purchased a new position in Iconix Brand Group during the third quarter worth about $11,096,000. Smith Graham & Co. Investment Advisors LP boosted its holdings in shares of Iconix Brand Group by 75.1% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 2,084,928 shares of the brand management company’s stock worth $2,690,000 after purchasing an additional 894,330 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Iconix Brand Group by 69.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,261,575 shares of the brand management company’s stock worth $1,628,000 after purchasing an additional 516,276 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Iconix Brand Group by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,204,245 shares of the brand management company’s stock worth $42,871,000 after purchasing an additional 481,845 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Iconix Brand Group in the 4th quarter worth about $495,000. Institutional investors and hedge funds own 86.89% of the company’s stock.

Iconix Brand Group (NASDAQ ICON) traded down $0.01 during trading hours on Monday, hitting $1.25. The company had a trading volume of 1,680,000 shares, compared to its average volume of 2,210,000. The company has a debt-to-equity ratio of -5.92, a quick ratio of 0.69 and a current ratio of 0.69. Iconix Brand Group has a 12 month low of $1.10 and a 12 month high of $9.79. The company has a market cap of $70.95, a price-to-earnings ratio of -0.08 and a beta of 1.29.

Iconix Brand Group (NASDAQ:ICON) last released its quarterly earnings data on Friday, December 22nd. The brand management company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Iconix Brand Group had a positive return on equity of 17.65% and a negative net margin of 311.99%. The company had revenue of $53.17 million for the quarter, compared to analyst estimates of $53.20 million. sell-side analysts predict that Iconix Brand Group will post 0.65 EPS for the current fiscal year.

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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.

Analyst Recommendations for Iconix Brand Group (NASDAQ:ICON)

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