Skullcandy Inc. (SKUL) Shares Up 1.9%
Skullcandy Inc. (NASDAQ:SKUL) was up 1.9% on Wednesday . The company traded as high as $6.44 and last traded at $6.42, with a volume of 72,196 shares. The stock had previously closed at $6.30.
A number of equities research analysts have weighed in on SKUL shares. Wunderlich reiterated a “buy” rating and set a $7.00 price target on shares of Skullcandy in a research note on Wednesday, June 8th. Roth Capital restated a “buy” rating on shares of Skullcandy in a research note on Monday, June 27th. Zacks Investment Research upgraded shares of Skullcandy from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 5th. TheStreet upgraded shares of Skullcandy from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, DA Davidson downgraded shares of Skullcandy from a “buy” rating to a “neutral” rating and boosted their target price for the company from $4.50 to $5.00 in a research note on Wednesday, June 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Skullcandy presently has an average rating of “Hold” and a consensus target price of $6.73.
The stock’s 50-day moving average price is $6.11 and its 200-day moving average price is $4.35. The firm has a market capitalization of $184.26 million and a price-to-earnings ratio of 106.83.
Skullcandy (NASDAQ:SKUL) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business earned $57.28 million during the quarter, compared to the consensus estimate of $56.72 million. During the same quarter last year, the company posted $0.04 EPS. The firm’s revenue was down .2% on a year-over-year basis. Equities analysts predict that Skullcandy Inc. will post $0.24 EPS for the current fiscal year.
In other Skullcandy news, Director Rick Alden sold 25,000 shares of the stock in a transaction 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 transaction, the director now owns 706,324 shares in the company, valued at approximately $4,315,639.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ptarmagin, Llc sold 37,500 shares of the stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $3.59, for a total value of $134,625.00. Following the transaction, the insider now owns 3,677,386 shares in the company, valued at approximately $13,201,815.74. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Skullcandy stock. Dimensional Fund Advisors LP boosted its stake in Skullcandy Inc. (NASDAQ:SKUL) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The firm 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 5.28% of Skullcandy worth $7,126,000 at the end of the most recent quarter.
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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