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Skullcandy (NASDAQ:SKUL) was upgraded by equities researchers at Davidson to a “buy” rating in a research report issued on Thursday.

In other Skullcandy news, CFO Jason Hodell purchased 5,500 shares of the company’s stock on the open market in a transaction that occurred on 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Shares of Skullcandy (NASDAQ:SKUL) traded up 0.60% on Thursday, hitting $8.33. 169,771 shares of the company’s stock traded hands. Skullcandy has a one year low of $5.24 and a one year high of $11.40. The stock’s 50-day moving average is $7.4 and its 200-day moving average is $7.92. The company has a market cap of $234.0 million and a P/E ratio of 83.64.

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.

A number of other analysts have also recently weighed in on SKUL. Analysts at DA Davidson upgraded shares of Skullcandy from a “neutral” rating to a “buy” rating in a research note on Wednesday. They now have a $10.00 price target on the stock, up previously from $8.00. Separately, 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. Finally, 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. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $8.41.

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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