Iconix Brand Group (ICON) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of Iconix Brand Group (NASDAQ:ICON) from a hold rating to a buy rating in a research note released on Friday.

Other research analysts have also recently issued reports about the stock. FBR & Co reissued an outperform rating and set a $8.50 price target on shares of Iconix Brand Group in a research report on Wednesday, August 9th. Sidoti began coverage on shares of Iconix Brand Group in a research note on Tuesday, September 19th. They set a neutral rating and a $6.00 price objective for the company. Roth Capital lowered shares of Iconix Brand Group from a buy rating to a neutral rating and set a $2.00 price objective for the company. in a research note on Monday, October 30th. B. Riley restated a neutral rating and set a $4.00 price objective (down from $8.50) on shares of Iconix Brand Group in a research note on Wednesday, November 1st. Finally, Cowen set a $9.00 price objective on shares of Iconix Brand Group and gave the company a hold rating in a research note on Monday, August 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $5.00.

Iconix Brand Group (NASDAQ ICON) opened at $1.69 on Friday. Iconix Brand Group has a 12-month low of $1.44 and a 12-month high of $10.80. The stock has a market cap of $106.74, a PE ratio of 1.80 and a beta of 1.38. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.02 and a current ratio of 1.02.

Several hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its holdings in shares of Iconix Brand Group by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 23,200 shares of the brand management company’s stock worth $160,000 after buying an additional 300 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Iconix Brand Group by 1.7% in the second quarter. Arizona State Retirement System now owns 29,760 shares of the brand management company’s stock worth $206,000 after buying an additional 500 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Iconix Brand Group by 5.2% in the second quarter. Public Employees Retirement System of Ohio now owns 17,869 shares of the brand management company’s stock worth $123,000 after buying an additional 876 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Iconix Brand Group by 2.4% in the second quarter. New York State Common Retirement Fund now owns 39,100 shares of the brand management company’s stock worth $270,000 after buying an additional 899 shares in the last quarter. Finally, Texas Permanent School Fund lifted its holdings in shares of Iconix Brand Group by 2.5% in the second quarter. Texas Permanent School Fund now owns 41,661 shares of the brand management company’s stock worth $288,000 after buying an additional 1,024 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: “Iconix Brand Group (ICON) Upgraded to Buy by ValuEngine” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2017/12/05/iconix-brand-group-icon-upgraded-to-buy-by-valuengine.html.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Iconix Brand Group (NASDAQ:ICON)

Receive News & Ratings for Iconix Brand Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iconix Brand Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply