Skullcandy’s (SKUL) Hold Rating Reiterated at DA Davidson
Skullcandy Inc. (NASDAQ:SKUL)‘s stock had its “hold” rating reaffirmed by equities researchers at DA Davidson in a report issued on Tuesday. They currently have a $6.35 target price on the stock.
Several other analysts have also recently issued reports on SKUL. Roth Capital reissued a “buy” rating on shares of Skullcandy in a research report on Monday, June 27th. Wunderlich reaffirmed a “buy” rating and issued a $7.00 target price on shares of Skullcandy in a report on Wednesday, June 8th. Zacks Investment Research cut shares of Skullcandy from a “hold” rating to a “sell” rating in a report on Friday, August 12th. Finally, TheStreet raised shares of Skullcandy from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Skullcandy has a consensus rating of “Hold” and an average target price of $6.76.
Shares of Skullcandy (NASDAQ:SKUL) opened at 6.35 on Tuesday. The firm’s 50-day moving average is $6.34 and its 200 day moving average is $5.01. The firm has a market capitalization of $182.54 million, a PE 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.
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Skullcandy (NASDAQ:SKUL) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). The business had revenue of $57.28 million for the quarter, compared to analysts’ expectations of $56.72 million. Skullcandy had a net margin of 0.72% and a return on equity of 1.23%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 earnings per share. On average, equities analysts forecast that Skullcandy will post $0.24 earnings per share for the current year.
In other news, major shareholder Ptarmagin, Llc sold 37,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $5.96, for a total transaction of $223,500.00. Following the transaction, the insider now directly owns 3,377,386 shares in the company, valued at $20,129,220.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rick Alden sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $6.17, for a total transaction of $154,250.00. Following the transaction, the director now owns 681,324 shares in the company, valued at $4,203,769.08. The disclosure for this sale can be found here. Insiders own 7.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. LMR Partners LLP acquired a new position in shares of Skullcandy during the second quarter worth about $136,000. Alpine Partners VI LLC acquired a new position in shares of Skullcandy during the second quarter worth about $173,000. KCG Holdings Inc. raised its position in shares of Skullcandy by 44.0% in the second quarter. KCG Holdings Inc. now owns 28,927 shares of the company’s stock worth $178,000 after buying an additional 8,835 shares during the period. Engineers Gate Manager LP raised its position in shares of Skullcandy by 36.2% in the second quarter. Engineers Gate Manager LP now owns 31,574 shares of the company’s stock worth $194,000 after buying an additional 8,394 shares during the period. Finally, Ameriprise Financial Inc. acquired a new position in shares of Skullcandy during the second quarter worth about $213,000. 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.
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