Iconix Brand Group Rating Lowered to Neutral at Ned Davis Research (ICON)
Iconix Brand Group (NASDAQ:ICON) was downgraded by stock analysts at Ned Davis Research from a “buy” rating to a “neutral” rating in a report issued on Monday, Analyst Ratings Network.com reports.
Shares of Iconix Brand Group (NASDAQ:ICON) traded down 0.79% during mid-day trading on Monday, hitting $32.78. 53,862 shares of the company’s stock traded hands. Iconix Brand Group has a 1-year low of $17.91 and a 1-year high of $34.63. The stock has a 50-day moving average of $33.30 and a 200-day moving average of $30.01. The company has a market cap of $1.778 billion and a price-to-earnings ratio of 17.42.
Iconix Brand Group (NASDAQ:ICON) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.56 by $0.16. The company had revenue of $115.10 million for the quarter, compared to the consensus estimate of $110.90 million. During the same quarter last year, the company posted $0.45 earnings per share. Iconix Brand Group’s revenue was up 23.0% compared to the same quarter last year. Analysts expect that Iconix Brand Group will post $2.26 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated an “outperform” rating on shares of Iconix Brand Group (NASDAQ:ICON) in a research note to investors on Monday, August 26th. They now have a $40.00 price target on the stock. Separately, analysts at Benchmark Co. raised their price target on shares of Iconix Brand Group (NASDAQ:ICON) from $30.00 to $33.00 in a research note to investors on Thursday, July 25th. They now have a “hold” rating on the stock. Finally, analysts at Monness Crespi & Hardt downgraded shares of Iconix Brand Group (NASDAQ:ICON) from a “buy” rating to a “neutral” rating in a research note to investors on Friday, July 19th. They now have a $30.00 price target on the stock. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $32.22.
Iconix Brand Group, Inc (NASDAQ:ICON) is a brand management company engaged in licensing, marketing and providing trend direction for a portfolio of consumer brands.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.