Guggenheim reissued their hold rating on shares of Iconix Brand Group (NASDAQ:ICON) in a report issued on Friday, March 16th.
“We remain NEUTRAL-rated given the multiple headwinds facing the business and wait for additional clarity around the company’s return to top-line stabilization.”,” Guggenheim’s analyst commented.
Other research analysts have also issued reports about the company. ValuEngine upgraded Iconix Brand Group from a hold rating to a buy rating in a report on Friday, December 1st. Zacks Investment Research upgraded Iconix Brand Group from a sell rating to a hold rating in a research note on Tuesday, February 6th. Finally, Roth Capital set a $2.00 target price on Iconix Brand Group and gave the company a hold rating in a research note on Thursday, March 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $5.00.
Shares of NASDAQ ICON opened at $1.01 on Friday. The company has a market capitalization of $64.42, a P/E ratio of 1.31 and a beta of 1.13. The company has a debt-to-equity ratio of -14.84, a current ratio of 2.07 and a quick ratio of 2.07. Iconix Brand Group has a 52 week low of $0.96 and a 52 week high of $8.30.
Iconix Brand Group (NASDAQ:ICON) last issued its quarterly earnings results on Wednesday, March 14th. The brand management company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.07. Iconix Brand Group had a positive return on equity of 20.17% and a negative net margin of 217.71%. The company had revenue of $52.30 million during the quarter, compared to analyst estimates of $51.50 million. During the same period in the previous year, the company earned $0.38 earnings per share. equities analysts forecast that Iconix Brand Group will post 0.4 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund raised its position in shares of Iconix Brand Group by 2.4% during 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 purchasing an additional 899 shares during the period. Voya Investment Management LLC raised its position in shares of Iconix Brand Group by 21.4% during the second quarter. Voya Investment Management LLC now owns 24,215 shares of the brand management company’s stock worth $167,000 after purchasing an additional 4,274 shares during the period. Royal Bank of Canada raised its position in shares of Iconix Brand Group by 12.3% during the second quarter. Royal Bank of Canada now owns 35,342 shares of the brand management company’s stock worth $245,000 after purchasing an additional 3,884 shares during the period. State Street Corp raised its position in shares of Iconix Brand Group by 1.7% during the second quarter. State Street Corp now owns 1,304,008 shares of the brand management company’s stock worth $9,015,000 after purchasing an additional 22,222 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Iconix Brand Group by 18.4% during the second quarter. The Manufacturers Life Insurance Company now owns 41,323 shares of the brand management company’s stock worth $286,000 after purchasing an additional 6,431 shares during the period. Hedge funds and other institutional investors own 64.10% of the company’s stock.
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Iconix Brand Group Company Profile
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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