Skullcandy Stock Price Up 6.5% on Insider Buying Activity (SKUL)
Skullcandy (NASDAQ:SKUL) shares rose 6.5% on Tuesday after an insider bought additional shares in the company, AnalystRatingsNetwork.com reports. The stock traded as high as $8.24 and last traded at $7.98, with a volume of 374,739 shares traded. The stock had previously closed at $7.49.
Specifically, CFO Jason Hodell purchased 5,500 shares of Skullcandy stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $7.29 per share, for a total transaction of $40,095.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on SKUL shares. Analysts at Jefferies Group upgraded shares of Skullcandy from an “underperform” rating to a “hold” rating in a research note on Tuesday. They now have a $8.00 price target on the stock, up previously from $7.00. Separately, analysts at Zacks upgraded shares of Skullcandy from a “neutral” rating to an “outperform” rating in a research note on Friday, August 1st. They now have a $8.20 price target on the stock. Finally, analysts at Piper Jaffray upgraded shares of Skullcandy from an “underweight” rating to a “neutral” rating in a research note on Wednesday, June 11th. They now have a $7.50 price target on the stock. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Skullcandy currently has an average rating of “Hold” and a consensus price target of $8.41.
The stock has a 50-day moving average of $7.33 and a 200-day moving average of $7.89. The company has a market cap of $222.4 million and a P/E ratio of 75.66.
Skullcandy (NASDAQ:SKUL) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.01 by $0.05. The company had revenue of $53.90 million for the quarter, compared to the consensus estimate of $53.91 million. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that Skullcandy will post $0.23 EPS for the current fiscal year.
Skullcandy, Inc is a designer, marketer and distributor of performance audio and gaming headphones and other accessory related products under the Skullcandy, Astro Gaming and 2XL by Skullcandy brands.
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