Skullcandy Inc. (NASDAQ:SKUL)‘s stock had its “hold” rating reaffirmed by investment analysts at DA Davidson in a report released on Tuesday. They presently have a $6.35 price target on the stock.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Skullcandy from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. TheStreet raised shares of Skullcandy from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Roth Capital reaffirmed a “buy” rating on shares of Skullcandy in a research report on Monday, June 27th. Finally, Wunderlich downgraded shares of Skullcandy from a “buy” rating to a “hold” rating and lowered their price objective for the company from $7.00 to $6.00 in a research report on Friday, June 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Skullcandy currently has an average rating of “Hold” and a consensus price target of $6.76.
Skullcandy (NASDAQ:SKUL) remained flat at $6.35 during mid-day trading on Tuesday. The company has a market cap of $182.54 million, a price-to-earnings ratio of 105.83 and a beta of 1.24. The firm has a 50 day moving average price of $6.34 and a 200 day moving average price of $5.01. Skullcandy has a 1-year low of $2.75 and a 1-year high of $6.66.
Skullcandy (NASDAQ:SKUL) last posted its earnings results on Tuesday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The firm earned $57.28 million during the quarter, compared to the consensus estimate of $56.72 million. Skullcandy had a net margin of 0.72% and a return on equity of 1.23%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. Analysts anticipate that Skullcandy will post $0.24 EPS for the current fiscal year.
In related news, major shareholder Ptarmagin, Llc sold 37,500 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $6.11, for a total transaction of $229,125.00. Following the transaction, the insider now directly owns 3,414,886 shares in the company, valued at $20,864,953.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rick Alden sold 25,000 shares of the firm’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $6.11, for a total value of $152,750.00. Following the transaction, the director now owns 706,324 shares in the company, valued at $4,315,639.64. The disclosure for this sale can be found here. Insiders own 7.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SKUL. Geode Capital Management LLC boosted its position in shares of Skullcandy by 1.7% in the first quarter. Geode Capital Management LLC now owns 107,364 shares of the company’s stock valued at $382,000 after buying an additional 1,756 shares during the period. Engineers Gate Manager LP boosted its position in shares of Skullcandy by 36.2% in the second quarter. Engineers Gate Manager LP now owns 31,574 shares of the company’s stock valued at $194,000 after buying an additional 8,394 shares during the period. KCG Holdings Inc. boosted its position in shares of Skullcandy by 44.0% in the second quarter. KCG Holdings Inc. now owns 28,927 shares of the company’s stock valued at $178,000 after buying an additional 8,835 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Skullcandy by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,599,237 shares of the company’s stock valued at $9,819,000 after buying an additional 10,803 shares during the period. Finally, LMR Partners LLP purchased a new position in shares of Skullcandy during the second quarter valued at about $136,000. Hedge funds and other institutional investors own 46.74% of the company’s stock.
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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