Iconix Brand Group (NASDAQ:ICON) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “Shares of Iconix have been underperforming the industry since the past six months. We note that the company, which recently posted dismal preliminary results for third-quarter 2017, has been delivering weak results (especially in the women's and men's segments) for quite some time now. The company is also experiencing continued weakness in its men's portfolio owing to declines in the Starter brand. We note that Starter brand has been downsized at Walmart stores, which is majorly hurting Iconix’s business. Nevertheless, Iconix has been undertaking several initiatives to boost its performance. It has been executing its global brand expansion plans through international joint ventures, and licensing agreements. In fact the company prides over having several direct to retail deals with retail giants. Further, Iconix Brand has taken significant steps to strengthen its balance sheet and enhance its financial flexibility.”

ICON has been the topic of a number of other reports. FBR & Co reissued a “buy” rating and issued a $8.50 target price on shares of Iconix Brand Group in a research note on Thursday, September 14th. Roth Capital reissued a “neutral” rating on shares of Iconix Brand Group in a research note on Tuesday, October 31st. Cowen set a $9.00 target price on shares of Iconix Brand Group and gave the stock a “hold” rating in a research note on Monday, August 14th. B. Riley reissued a “neutral” rating and issued a $4.00 target price (down from $8.50) on shares of Iconix Brand Group in a research note on Wednesday, November 1st. Finally, ValuEngine raised shares of Iconix Brand Group from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Iconix Brand Group has a consensus rating of “Hold” and an average target price of $5.00.

Iconix Brand Group (NASDAQ ICON) traded up $0.07 on Tuesday, reaching $1.45. 2,568,200 shares of the company’s stock were exchanged, compared to its average volume of 1,082,413. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.02 and a quick ratio of 1.02. Iconix Brand Group has a twelve month low of $1.36 and a twelve month high of $10.80. The stock has a market cap of $78.77, a price-to-earnings ratio of 1.33 and a beta of 1.38.

Hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC raised its position in shares of Iconix Brand Group by 20.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 16,258 shares of the brand management company’s stock valued at $112,000 after buying an additional 2,797 shares during the period. AHL Partners LLP purchased a new stake in shares of Iconix Brand Group during the 2nd quarter valued at approximately $118,000. Public Employees Retirement System of Ohio raised its position in shares of Iconix Brand Group by 5.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 17,869 shares of the brand management company’s stock valued at $123,000 after buying an additional 876 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Iconix Brand Group during the 2nd quarter valued at approximately $142,000. Finally, Louisiana State Employees Retirement System raised its position in shares of Iconix Brand Group by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,200 shares of the brand management company’s stock valued at $160,000 after buying an additional 300 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

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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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Analyst Recommendations for Iconix Brand Group (NASDAQ:ICON)

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