Skullcandy Inc. (SKUL) Receives “Hold” Rating from DA Davidson
SKUL has been the topic of a number of other reports. Roth Capital reissued a buy rating on shares of Skullcandy in a research note on Monday, June 27th. TheStreet raised Skullcandy from a sell rating to a hold rating in a research note on Wednesday, July 27th. Zacks Investment Research raised 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $6.76.
Skullcandy (NASDAQ:SKUL) remained flat at $6.35 during mid-day trading on Tuesday. The firm has a 50-day moving average of $6.34 and a 200-day moving average of $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 has a 52-week low of $2.75 and a 52-week high of $6.66.
Skullcandy (NASDAQ:SKUL) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $57.28 million for the quarter, compared to analyst estimates of $56.72 million. Skullcandy had a return on equity of 1.23% and a net margin of 0.72%. Skullcandy’s revenue was down .2% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. Analysts forecast that Skullcandy will post $0.24 EPS for the current fiscal year.
In other Skullcandy news, major shareholder Ptarmagin, Llc sold 37,500 shares of Skullcandy stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $6.01, for a total value of $225,375.00. Following the completion of the sale, the insider now directly owns 3,452,386 shares in the company, valued at $20,748,839.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rick Alden sold 25,000 shares of Skullcandy stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $6.17, for a total value of $154,250.00. Following the completion of the sale, the director now owns 681,324 shares of the company’s stock, valued at $4,203,769.08. The disclosure for this sale can be found here. 7.70% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Carlson Capital L P acquired a new stake in shares of Skullcandy during the second quarter worth $4,758,000. Water Island Capital LLC purchased a new stake in Skullcandy during the second quarter valued at approximately $2,294,000. Kassirer Asset Management Corp purchased a new stake in Skullcandy during the second quarter valued at approximately $1,530,000. Signia Capital Management LLC increased 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 valued at $2,373,000 after buying an additional 232,733 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Skullcandy by 21.6% in the second quarter. Vanguard Group Inc. now owns 809,327 shares of the company’s stock valued at $4,969,000 after buying an additional 143,974 shares in the last quarter. Institutional investors and hedge funds own 46.74% of the company’s stock.
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 & 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 companies with MarketBeat.com's FREE daily email newsletter.