The stock of Skullcandy Inc (NASDAQ:SKUL) hit a new 52-week high and has $16.42 target or 159.00% above today’s $6.34 share price. The 6 months bullish chart indicates low risk for the $182.11M company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $16.42 price target is reached, the company will be worth $289.55M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock last traded at $6.34 per share. It is up 79.10% since February 29, 2016 and is uptrending. It has outperformed by 66.88% the S&P500.
Analysts await Skullcandy Inc (NASDAQ:SKUL) to report earnings on November, 3. They expect $0.10 earnings per share, up 25.00% or $0.02 from last year’s $0.08 per share. SKUL’s profit will be $2.87M for 15.85 P/E if the $0.10 EPS becomes a reality. After $-0.05 actual earnings per share reported by Skullcandy Inc for the previous quarter, Wall Street now forecasts -300.00% EPS growth.
Skullcandy Inc (NASDAQ:SKUL) Ratings Coverage
Out of 6 analysts covering Skullcandy (NASDAQ:SKUL), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. Skullcandy has been the topic of 13 analyst reports since August 9, 2015 according to StockzIntelligence Inc. The company was maintained on Tuesday, January 12 by TH Capital. The stock has “Buy” rating given by Wunderlich on Tuesday, January 12. The firm earned “Hold” rating on Friday, November 6 by Jefferies. Sterne Agee CRT maintained the stock with “Buy” rating in Sunday, August 9 report. The rating was maintained by Oppenheimer with “Outperform” on Friday, January 15. The stock of Skullcandy Inc (NASDAQ:SKUL) has “Buy” rating given on Tuesday, January 5 by DA Davidson. Oppenheimer initiated the stock with “Outperform” rating in Wednesday, December 30 report. The stock of Skullcandy Inc (NASDAQ:SKUL) earned “Outperform” rating by Oppenheimer on Monday, January 18.
According to Zacks Investment Research, “Skullcandy, Inc. is a manufacturer and developer of headphone and other audio products. The Company supplies headphones, gaming headsets, earbuds, and sports buds along with apparel and accessories. Skullcandy, Inc is based in Park City, Utah.”
Insitutional Activity: The institutional sentiment decreased to 0.72 in Q2 2016. Its down 0.35, from 1.07 in 2016Q1. The ratio is negative, as 27 funds sold all Skullcandy Inc shares owned while 30 reduced positions. 24 funds bought stakes while 17 increased positions. They now own 12.91 million shares or 28.80% less from 18.13 million shares in 2016Q1.
Kcg accumulated 28,927 shares or 0% of the stock. Moreover, Blackrock Fund Advsr has 0% invested in Skullcandy Inc (NASDAQ:SKUL) for 58,554 shares. Comml Bank Of America De accumulated 6,574 shares or 0% of the stock. Morgan Stanley holds 141,468 shares or 0% of its portfolio. Ameriprise has 34,721 shares for 0% of their US portfolio. Paloma Prns Communications holds 0.01% of its portfolio in Skullcandy Inc (NASDAQ:SKUL) for 87,213 shares. Blackrock Institutional Trust Na has 405,162 shares for 0% of their US portfolio. Northern Trust accumulated 27,759 shares or 0% of the stock. Moreover, Bridgeway Management has 0% invested in Skullcandy Inc (NASDAQ:SKUL) for 40,966 shares. Gsa Cap Prtnrs Ltd Liability Partnership accumulated 0.06% or 177,042 shares. Wells Fargo And Mn, a California-based fund reported 5 shares. First New York Secs Ltd Liability Company Ny last reported 85,161 shares in the company. Concannon Wealth Mgmt Ltd Liability Company has 0% invested in the company for 100 shares. Royal National Bank & Trust Of Canada holds 0% of its portfolio in Skullcandy Inc (NASDAQ:SKUL) for 100 shares. Nationwide Fund Advsrs, a Pennsylvania-based fund reported 12,739 shares.
Insider Transactions: Since April 7, 2016, the stock had 0 insider buys, and 26 selling transactions for $4.55 million net activity. PTARMAGIN – LLC sold $236,625 worth of stock. ALDEN RICK had sold 25,000 shares worth $154,250 on Tuesday, August 9.
More notable recent Skullcandy Inc (NASDAQ:SKUL) news were published by: Twst.com which released: “Skullcandy Inc.: Skullcandy Closes Going Private Transaction with Mill Road …” on October 03, 2016, also Fool.com with their article: “Revenue and Profits Slump at Skullcandy Inc.” published on March 03, 2016, Seekingalpha.com published: “Open Letter To Shareholders Of Skullcandy, Inc.” on July 18, 2016. More interesting news about Skullcandy Inc (NASDAQ:SKUL) were released by: Ocbj.com and their article: “Skullcandy Touts Incipio’s Bigger Bid” published on August 03, 2016 as well as Wsj.com‘s news article titled: “Skullcandy to Be Bought by Mill Road as Incipio Walks Away” with publication date: August 24, 2016.
SKUL Company Profile
Skullcandy, Inc., incorporated on May 20, 2005, creates audio experiences through its Skullcandy and Astro Gaming brands. The Firm operates in two divisions: Domestic and International. The Domestic segment consists of Skullcandy and Astro Gaming product sales to clients in the United States. The International segment includes Skullcandy product sales to clients in Europe, Asia, Canada Mexico, and all other geographic areas outside the United States that are served by the Company’s International operations. The Firm primarily operates in the consumer products category in which the Company develops and distributes headphones and other audio products. Astro Gaming creates premium video gaming equipment for professional gamers, leagues, and gaming enthusiasts. Skullcandy and Astro Gaming products are sold and distributed through a range of channels around the world from the Company’s global locations in Park City, San Francisco, London, Tokyo, Zurich, Mexico City and Shanghai, as well as through partners in various culture, sports and gaming hubs in the world. Skullcandy brand creates various audio and gaming products.
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