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Skullcandy (NASDAQ:SKUL) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $10.00 price objective on the stock, up from their previous price objective of $8.00. DA Davidson’s price objective would suggest a potential upside of 25.79% from the stock’s previous close.

In other Skullcandy news, 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, with a total value of $40,095.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group upgraded shares of Skullcandy from an “underperform” rating to a “hold” rating in a research note on Tuesday, August 12th. 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. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $8.41.

Shares of Skullcandy (NASDAQ:SKUL) opened at 7.95 on Wednesday. Skullcandy has a 1-year low of $5.20 and a 1-year high of $11.40. The stock has a 50-day moving average of $7.3 and a 200-day moving average of $7.92. The company has a market cap of $223.3 million and a price-to-earnings ratio of 79.80.

Skullcandy (NASDAQ:SKUL) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.06 earnings per share for the quarter, beating the analysts’ 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. Skullcandy’s revenue was up 6.1% compared to the same quarter last year. Analysts expect that Skullcandy will post $0.24 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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