After Lunch with Iconix Brand (ICON), Barclays Notes Challenges, But Risk/Reward to Compelling to Ignore
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Price: $29.83 -0.4%
Rating Summary:
1 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
1 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ICON Now!
Barclays maintains an 'Overweight' on Iconix Brand (NASDAQ: ICON) price target of $20.00.
Shares of ICON are trading close to a 52-wk low (currently at $16.22) (FY range $14.27-26.05) and Barclays issued an update of a recently hosted lunch by the the firm and company executives.
Analyst, Robert S. Drbul, said, "Pressure within the business has been driven by softness in Ed Hardy, Ecko, Rocawear and a costly Royal Velvet licensing transition. The company continues to work to stabilize these pressures and has also taken additional cost-cutting measures."
However, Drbul, thinks the current challenges are priced into the stock (again down close to 52-wk low) and says current trading leves are attractive (risk/reward). As for the positives, Drbul sees long-term opportunities from international expansion (especially from China and India). Also he points out that the company has a strong balance sheet ($190 mln+) and a $200 mln stock buyback plan in place.
For an analyst ratings summary and ratings history on Iconix Brand click here. For more ratings news on Iconix Brand click here.
Shares of Iconix Brand closed at $16.22 yesterday, with a 52 week range of $14.27-$26.05.
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Shares of ICON are trading close to a 52-wk low (currently at $16.22) (FY range $14.27-26.05) and Barclays issued an update of a recently hosted lunch by the the firm and company executives.
Analyst, Robert S. Drbul, said, "Pressure within the business has been driven by softness in Ed Hardy, Ecko, Rocawear and a costly Royal Velvet licensing transition. The company continues to work to stabilize these pressures and has also taken additional cost-cutting measures."
However, Drbul, thinks the current challenges are priced into the stock (again down close to 52-wk low) and says current trading leves are attractive (risk/reward). As for the positives, Drbul sees long-term opportunities from international expansion (especially from China and India). Also he points out that the company has a strong balance sheet ($190 mln+) and a $200 mln stock buyback plan in place.
For an analyst ratings summary and ratings history on Iconix Brand click here. For more ratings news on Iconix Brand click here.
Shares of Iconix Brand closed at $16.22 yesterday, with a 52 week range of $14.27-$26.05.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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