Iconix Brand Group, Inc. (NASDAQ:ICON) shares fell 6.2% on Friday . The company traded as low as $0.90 and last traded at $0.91. 807,446 shares changed hands during trading, a decline of 63% from the average session volume of 2,181,535 shares. The stock had previously closed at $0.97.
A number of brokerages have weighed in on ICON. Zacks Investment Research raised shares of Iconix Brand Group from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a research report on Tuesday, April 17th. Roth Capital set a $2.00 target price on shares of Iconix Brand Group and gave the stock a “hold” rating in a research report on Thursday, March 15th. Finally, Guggenheim reissued a “hold” rating on shares of Iconix Brand Group in a research report on Friday, March 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Iconix Brand Group currently has a consensus rating of “Hold” and a consensus price target of $4.33.
The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of -14.84. The stock has a market capitalization of $58.04, a P/E ratio of 1.18 and a beta of 1.13.
Iconix Brand Group (NASDAQ:ICON) last posted its 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 negative net margin of 217.71% and a positive return on equity of 20.17%. The business had revenue of $52.30 million for the quarter, compared to analysts’ expectations of $51.50 million. During the same period in the previous year, the company posted $0.38 earnings per share. research analysts anticipate that Iconix Brand Group, Inc. will post 0.4 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Spark Investment Management LLC acquired a new position in shares of Iconix Brand Group during the fourth quarter worth $187,000. OxFORD Asset Management LLP lifted its position in shares of Iconix Brand Group by 46.5% during the third quarter. OxFORD Asset Management LLP now owns 149,954 shares of the brand management company’s stock worth $859,000 after purchasing an additional 47,621 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Iconix Brand Group during the fourth quarter worth $495,000. Two Sigma Investments LP acquired a new position in shares of Iconix Brand Group during the fourth quarter worth $528,000. Finally, Millennium Management LLC acquired a new position in shares of Iconix Brand Group during the fourth quarter worth $636,000. 61.54% of the stock is currently owned by institutional investors and hedge funds.
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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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