Iconix Brand Group Hits New 1-Year Low Following Analyst Downgrade (ICON)

Iconix Brand Group has a 52-week low of $6.60 and a 52-week high of $41.03. (NASDAQ:ICON): The stock price is expected to reach $ 22.25 in the short term.

Iconix Brand is now covered by 9 Wall Street analysts.

Several other research firms have also commented on ICON. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Among the 2 analysts who were surveyed, the consensus expectation for quarterly sales had been 116.925M.

Excluding the effect of foreign currency exchange rates, licensing revenue was flat in the quarter. The rating is an average of the various different ratings given by analysts and brokers to Iconix Brand Group Incorporated, and then averaged into one rating by a team of analysts at Zacks in Chicago, Illinois. Moreover, Van Berkom & Associates Inc. has 2.11% invested in the company for 1.79 million shares. The rating by the firm was issued on August 12, 2015. The stock has plummeted to a new low for the year.

Note: All items in the following reconciliation tables are attributable to Iconix Brand Group, Inc. and exclude results related to non-controlling interests. On a non-GAAP basis, as set forth in the tables below, net income attributable to Iconix for the nine month period was approximately $54.5 million, a 50% decrease as compared to approximately $108.4 million in the prior year period, and non-GAAP diluted earnings per share was approximately $1.10, an approximate decrease of 46% versus $2.05 for the prior year period.

Iconix shares have declined 80 percent since the beginning of the year. The total amount of the transaction was worth $243,821, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Shares of Iconix Brand Group, Inc. (NASDAQ:ICON) ended Thursday session in red amid volatile trading. The California-based fund Huber Capital Management Llc is also positive about the stock, possessing 2.82 million shares or 1.81% of their United States long equity exposure. Finally, TheStreet lowered Iconix Brand Group from a buy rating to a hold rating in a report on Thursday, July 23rd. The company has a market capitalization of $332.99 million and a price-to-earnings ratio of 2.73. The firm has a 50 day moving average price of $14.78 and a 200 day moving average price of $20.16.

“We have gone through a hard transition period, but Iconix continues to have significant business strengths including its diversified portfolio of consumer brands, profitable business model and strong free cash flow generation”, Chairman and Interim CEO Peter Cuneo said in a statement. The Company is the owner of the brands through its wholly owned subsidiaries: Candie’s, Bongo, Badgley Mischka, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific/OP, Danskin/Danskin Now, Rocawear, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Zoo York and Sharper Image, which it licenses directly to retailers (herein referred to as direct-to-retail), wholesalers and suppliers for use a range of product categories, including apparel, footwear, sportswear, fashion accessories, home products and decor, beauty and fragrance.