Brokerages Set Skullcandy Inc. (NASDAQ:SKUL) Price Target at $7.02
Skullcandy Inc. (NASDAQ:SKUL) has earned a consensus rating of “Hold” from the nine brokerages that are currently covering the firm. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.02.
Several research firms have recently commented on SKUL. Roth Capital reissued a “buy” rating on shares of Skullcandy in a research note on Monday, June 27th. DA Davidson cut shares of Skullcandy from a “buy” rating to a “neutral” rating and increased their price target for the company from $4.50 to $5.00 in a research note on Wednesday, June 8th. TheStreet raised shares of Skullcandy from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Zacks Investment Research raised shares of Skullcandy from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Finally, Wunderlich reissued a “buy” rating and set a $7.00 price target on shares of Skullcandy in a research note on Wednesday, June 8th.
In other Skullcandy news, Director Rick Alden sold 25,000 shares of the stock in a transaction on 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 $4,203,769.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ptarmagin, Llc sold 37,500 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $6.32, for a total transaction of $237,000.00. Following the completion of the sale, the insider now owns 3,114,886 shares in the company, valued at $19,686,079.52. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. CNH Partners LLC purchased a new stake in Skullcandy during the second quarter valued at $754,000. Paloma Partners Management Co bought a new stake in shares of Skullcandy during the second quarter worth approximately $536,000. 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 bought a new stake in shares of Skullcandy during the second quarter worth approximately $2,294,000. Finally, Vertex One Asset Management Inc. bought a new stake in shares of Skullcandy during the second quarter worth approximately $666,000. Institutional investors own 46.74% of the company’s stock.
Skullcandy (NASDAQ:SKUL) opened at 6.34 on Friday. The stock’s 50 day moving average is $6.33 and its 200 day moving average is $4.98. Skullcandy has a 12-month low of $2.75 and a 12-month high of $6.48. The stock has a market capitalization of $182.25 million, a PE ratio of 105.67 and a beta of 1.29.
Skullcandy (NASDAQ:SKUL) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.05) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). Skullcandy had a net margin of 0.72% and a return on equity of 1.23%. The business had revenue of $57.28 million for the quarter, compared to analysts’ expectations of $56.72 million. During the same period in the prior year, the firm earned $0.04 earnings per share. Skullcandy’s revenue was down .2% compared to the same quarter last year. Analysts forecast that Skullcandy will post $0.24 EPS for the current 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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