Shares of Skullcandy Inc. (NASDAQ:SKUL) have earned an average rating of “Hold” from the nine analysts that are presently covering the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $7.06.
A number of equities analysts have issued reports on SKUL shares. DA Davidson downgraded shares of Skullcandy from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $4.50 to $5.00 in a report on Wednesday, June 8th. Wunderlich reaffirmed a “buy” rating and set a $7.00 price objective on shares of Skullcandy in a report on Wednesday, June 8th. Roth Capital reaffirmed a “buy” rating on shares of Skullcandy in a report on Monday, June 27th. Zacks Investment Research raised shares of Skullcandy from a “sell” rating to a “hold” rating in a report on Thursday, July 7th. Finally, TheStreet raised shares of Skullcandy from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th.
In related news, Director Rick Alden sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $6.17, for a total value of $154,250.00. Following the sale, the director now directly owns 681,324 shares in the company, valued at approximately $4,203,769.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ptarmagin, Llc sold 37,500 shares of the business’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $6.01, for a total value of $225,375.00. Following the completion of the sale, the insider now owns 3,452,386 shares in the company, valued at $20,748,839.86. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. CNH Partners LLC purchased a new stake in shares of Skullcandy during the second quarter worth about $754,000. Paloma Partners Management Co purchased a new stake in shares of Skullcandy during the second quarter worth about $536,000. Carlson Capital L P purchased a new stake in shares of Skullcandy during the second quarter worth about $4,758,000. Water Island Capital LLC purchased a new stake in shares of Skullcandy during the second quarter worth about $2,294,000. Finally, Vertex One Asset Management Inc. purchased a new stake in shares of Skullcandy during the second quarter worth about $666,000. Institutional investors and hedge funds own 46.74% of the company’s stock.
Skullcandy (NASDAQ:SKUL) opened at 6.35 on Friday. Skullcandy has a 52-week low of $2.75 and a 52-week high of $6.66. The company’s 50-day moving average is $6.34 and its 200-day moving average is $5.01. The company has a market capitalization of $182.54 million, a price-to-earnings ratio of 105.83 and a beta of 1.24.
Skullcandy (NASDAQ:SKUL) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). Skullcandy had a net margin of 0.72% and a return on equity of 1.23%. The business earned $57.28 million during the quarter, compared to the consensus estimate of $56.72 million. During the same quarter last year, the firm posted $0.04 EPS. Skullcandy’s revenue was down .2% compared to the same quarter last year. On average, analysts expect that Skullcandy will post $0.24 earnings per share for the current fiscal year.
Skullcandy Company Profile
Skullcandy, Inc creates audio experiences through its Skullcandy and Astro Gaming brands. The Company operates in two segments: Domestic and International. The Domestic segment consists of Skullcandy and Astro Gaming product sales to customers in the United States. The International segment includes Skullcandy product sales to customers in Europe, Asia, Canada Mexico, and all other geographic areas outside the United States that are served by the Company’s International operations.
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