Skullcandy Inc. (SKUL) Receives “Hold” Rating from DA Davidson
SKUL has been the topic of a number of other research reports. Roth Capital reiterated a buy rating on shares of Skullcandy in a research note on Monday, June 27th. TheStreet upgraded shares of Skullcandy from a sell rating to a hold rating in a research note on Wednesday, July 27th. Zacks Investment Research upgraded shares of Skullcandy from a sell rating to a hold rating in a research note on Thursday, July 7th. Finally, Wunderlich reiterated a buy rating and set a $7.00 price target on shares of Skullcandy in a research note on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $6.76.
Skullcandy (NASDAQ:SKUL) remained flat at $6.35 during trading on Tuesday. Skullcandy has a 1-year low of $2.75 and a 1-year high of $6.66. The company’s 50 day moving average is $6.34 and its 200 day moving average is $5.01. The stock has a market cap 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 for the quarter, hitting the Zacks’ consensus estimate of ($0.05). Skullcandy had a net margin of 0.72% and a return on equity of 1.23%. The firm had revenue of $57.28 million for the quarter, compared to the consensus estimate of $56.72 million. During the same quarter in the previous year, the company earned $0.04 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. Equities research analysts expect that Skullcandy will post $0.24 EPS for the current fiscal year.
In other news, Director Rick Alden sold 25,000 shares of the company’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $6.11, for a total value of $152,750.00. Following the completion of the sale, the director now directly owns 706,324 shares of the company’s stock, valued at approximately $4,315,639.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ptarmagin, Llc sold 37,500 shares of the company’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $6.11, for a total value of $229,125.00. Following the completion of the sale, the insider now directly owns 3,414,886 shares of the company’s stock, valued at $20,864,953.46. The disclosure for this sale can be found here. Company insiders own 7.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Carlson Capital L P bought a new stake in shares of Skullcandy during the second quarter worth approximately $4,758,000. Water Island Capital LLC acquired a new stake in Skullcandy during the second quarter worth about $2,294,000. Kassirer Asset Management Corp acquired a new stake in Skullcandy during the second quarter worth about $1,530,000. Signia Capital Management LLC boosted its stake in Skullcandy by 151.4% in the second quarter. Signia Capital Management LLC now owns 386,467 shares of the company’s stock worth $2,373,000 after buying an additional 232,733 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Skullcandy by 21.6% in the second quarter. Vanguard Group Inc. now owns 809,327 shares of the company’s stock worth $4,969,000 after buying an additional 143,974 shares during the last quarter. 46.74% of the stock is owned by institutional investors.
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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