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Know of a hot consumer brand? Odds are good that it might be owned by Iconix Brand Group, Inc. (NASDAQ:ICON). The company continues to expand its brand empire, having just added the rest of Ecko and Marc Ecko Cut & Sew under its banner. Earnings on this Zacks Rank No. 1 (Strong Buy) are expected to jump by the double digits this year.

You might not know of Iconix, but you know its brands. In addition to Ecko it owns Candies, Bongo, Badgley Mischka, Joe Boxer, Rampage, Mudd, London Fog, Danskin, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Umbro, Lee Cooper, Ed Hardy, and Sharper Image. It also owns an interest in Artful Dodger, Material Girl, Peanuts, Truth or Dare, Billionaire Boys Club, Ice Cream, Modern Amusement, and Buffalo. It licenses out the brands to retailers so it doesn't actually manufacture anything. The company holds no inventory, which puts it in a unique position in the world of retail.

On May 24, it acquired the remaining 49% interest in IP Holdings Unlimited, the owner of men's brands Ecko Unltd and Marc Ecko Cut & Sew, including trademarks for $45 million. It was already the core apparel licensee for the brands. It is sold in 5,000 stores in 60 countries and has about 100 stand-alone retail stores.

Record Revenue in the First Quarter of 2013

On April 24, Iconix reported first-quarter 2013 results and beat the Zacks Consensus by 5.8%. It was the fourth consecutive earnings beat. Revenue jumped 19% to a record $105.1 million as the company said it was off to a strong start to the year. It had completed three acquisitions in the prior five months, which boosted the quarter.

Iconix raised its full-year EPS guidance to a range of $2.10 to $2.20 from $2.05 to $2.15. It expects over 20% revenue and EPS growth for the full year. Analysts are equally as bullish. They expect earnings to jump 27.7% in 2013 and another 9% in 2014. The Zacks Consensus is looking for the higher end of the company's guidance range, calling for $2.17.

Valuations Still Attractive

In addition to double-digit earnings and revenue growth, an investor is also getting value. Iconix trades with a forward P/E of just 13.9. That's under the average of the S&P 500, which is 15x. It also has a price-to-book ratio of just 1.5. A P/B ratio under 3.0 usually means there is value.

Shares at a Five-Year High

With stocks near all-time highs, it's not surprising to see that shares of Iconix are also at multi-year highs.

The earnings beat combined with the boost to guidance has pushed the stock higher in 2013. But with strong growth expected to continue through the end of this year, an investor has the rare opportunity to buy a value stock with double-digit growth. This is a Zacks Bull of the Day worth checking out.

Iconix Brand: Free Stock Analysis Report (email registration required)

Source: Bull Of The Day: Iconix Brand