Skullcandy Inc. (SKUL) Shares Gap Up to $6.22
Shares of Skullcandy Inc. (NASDAQ:SKUL) gapped up before the market opened on Tuesday . The stock had previously closed at $6.18, but opened at $6.22. Skullcandy shares last traded at $6.30, with a volume of 73,019 shares trading hands.
Several research firms have issued reports on SKUL. Zacks Investment Research upgraded shares of Skullcandy from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 5th. Roth Capital restated a “buy” rating on shares of Skullcandy in a research report on Monday, June 27th. Wunderlich restated a “buy” rating and set a $7.00 price target on shares of Skullcandy in a research report on Wednesday, June 8th. DA Davidson restated a “neutral” rating and set a $6.10 price target on shares of Skullcandy in a research report on Saturday, August 13th. Finally, TheStreet upgraded shares of Skullcandy from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. 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 company. The company has a consensus rating of “Hold” and an average target price of $6.73.
The stock has a 50-day moving average price of $6.12 and a 200-day moving average price of $4.36. The company has a market capitalization of $184.35 million and a P/E ratio of 106.883.
Skullcandy (NASDAQ:SKUL) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The company earned $57.28 million during the quarter, compared to the consensus estimate of $56.72 million. The business’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share. On average, analysts anticipate that Skullcandy Inc. will post $0.24 EPS for the current year.
In other news, Director Rick Alden sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ptarmagin, Llc sold 37,500 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $3.88, for a total transaction of $145,500.00. Following the completion of the sale, the insider now owns 3,639,886 shares in the company, valued at $14,122,757.68. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Skullcandy stock. Dimensional Fund Advisors LP raised its position in Skullcandy Inc. (NASDAQ:SKUL) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,506,475 shares of the company’s stock after buying an additional 14,155 shares during the period. Dimensional Fund Advisors LP owned about 5.28% of Skullcandy worth $7,126,000 as of its most recent filing with the SEC.
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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