Brokerages Set Skullcandy Inc. (NASDAQ:SKUL) Price Target at $7.02
Skullcandy Inc. (NASDAQ:SKUL) has been given an average rating of “Hold” by the nine research firms that are currently covering the firm. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $7.02.
A number of equities analysts recently commented on SKUL shares. DA Davidson downgraded Skullcandy from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $4.50 to $5.00 in a research note on Wednesday, June 8th. Zacks Investment Research downgraded Skullcandy from a “hold” rating to a “sell” rating in a research note on Friday, August 12th. Roth Capital restated a “buy” rating on shares of Skullcandy in a research note on Monday, June 27th. Wunderlich downgraded Skullcandy from a “buy” rating to a “hold” rating and decreased their target price for the company from $7.00 to $6.00 in a research note on Friday, June 24th. Finally, TheStreet upgraded Skullcandy from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th.
In related news, Director Rick Alden sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $6.11, for a total transaction of $152,750.00. Following the sale, the director now owns 706,324 shares of the company’s stock, valued at $4,315,639.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Ptarmagin, Llc sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $6.11, for a total value of $229,125.00. Following the sale, the insider now directly owns 3,414,886 shares in the company, valued at approximately $20,864,953.46. The disclosure for this sale can be found here. Insiders own 7.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. LMR Partners LLP purchased a new stake in shares of Skullcandy during the second quarter valued at approximately $136,000. Alpine Partners VI LLC purchased a new stake in shares of Skullcandy during the second quarter valued at approximately $173,000. KCG Holdings Inc. boosted its stake 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 last quarter. Engineers Gate Manager LP boosted its stake 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 last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Skullcandy during the second quarter valued at approximately $213,000. 46.74% of the stock is currently owned by hedge funds and other institutional investors.
Skullcandy (NASDAQ:SKUL) opened at 6.34 on Friday. The stock has a market capitalization of $182.25 million, a P/E ratio of 105.67 and a beta of 1.29. Skullcandy has a 1-year low of $2.75 and a 1-year high of $6.48. The company has a 50-day moving average price of $6.33 and a 200 day moving average price of $4.98.
Skullcandy (NASDAQ:SKUL) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The business earned $57.28 million during the quarter, compared to the consensus estimate of $56.72 million. Skullcandy had a return on equity of 1.23% and a net margin of 0.72%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. On average, equities analysts predict that Skullcandy will post $0.24 EPS for the current year.
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.
Receive News & Stock Ratings for Skullcandy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skullcandy Inc. and related stocks with our FREE daily email newsletter.