Jakks Pacific Inc. (JAKK) Downgraded to Hold at Zacks Investment Research
According to Zacks, “Over the past few quarters, JAKKS Pacific’s revenue growth has been mainly supported by sales of products such as the BIG-FIGS featuring Star Wars and Batman vs. Superman, Warcraft figures, collectible figurines line Tsum Tsum, Disguise Halloween costume, and Nintendo figures and plush. The company’s international expansion efforts have also added to the results. Going forward, product launches and organic growth initiatives are likely to propel growth. Besides, associations with popular brands and licensing agreements with well-liked movie and television franchises should boost sales. Also, estimates have been mostly stable lately ahead of JAKKS Pacific’s third quarter earnings release. Meanwhile, the company has mixed record of earnings surprises in recent quarters. However, a challenging retail environment, age compression and the shift to alternative modes of entertainment like smartphones are potent threats to the top line.”
Separately, B. Riley reissued a neutral rating and set a $10.00 target price on shares of Jakks Pacific in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $11.58.
Shares of Jakks Pacific (NASDAQ:JAKK) opened at 8.85 on Monday. The company has a market cap of $142.95 million, a P/E ratio of 16.89 and a beta of 0.55. Jakks Pacific has a 12 month low of $6.17 and a 12 month high of $9.75. The stock’s 50 day moving average is $8.93 and its 200-day moving average is $8.17.
Jakks Pacific (NASDAQ:JAKK) last announced its quarterly earnings results on Wednesday, July 20th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.04. Jakks Pacific had a net margin of 2.00% and a return on equity of 10.42%. The firm earned $141 million during the quarter, compared to analysts’ expectations of $134.80 million. During the same quarter in the prior year, the company earned ($0.30) EPS. The company’s revenue was up 7.6% compared to the same quarter last year. On average, equities analysts forecast that Jakks Pacific will post $0.79 EPS for the current year.
In other Jakks Pacific news, major shareholder Patrick Soon-Shiong sold 133,619 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $8.82, for a total value of $1,178,519.58. Following the completion of the transaction, the insider now owns 239,622 shares of the company’s stock, valued at $2,113,466.04. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of JAKK. Lazard Asset Management LLC boosted its position in Jakks Pacific by 0.6% in the first quarter. Lazard Asset Management LLC now owns 51,534 shares of the company’s stock worth $383,000 after buying an additional 291 shares in the last quarter. Stifel Financial Corp boosted its position in Jakks Pacific by 1.6% in the second quarter. Stifel Financial Corp now owns 25,401 shares of the company’s stock worth $201,000 after buying an additional 400 shares in the last quarter. BlackRock Investment Management LLC boosted its position in Jakks Pacific by 1.0% in the second quarter. BlackRock Investment Management LLC now owns 72,075 shares of the company’s stock worth $570,000 after buying an additional 719 shares in the last quarter. Eagle Global Advisors LLC boosted its position in Jakks Pacific by 7.5% in the second quarter. Eagle Global Advisors LLC now owns 26,740 shares of the company’s stock worth $212,000 after buying an additional 1,870 shares in the last quarter. Finally, Oxford Asset Management boosted its position in Jakks Pacific by 0.6% in the second quarter. Oxford Asset Management now owns 361,018 shares of the company’s stock worth $2,856,000 after buying an additional 2,112 shares in the last quarter.
Jakks Pacific Company Profile
JAKKS Pacific, Inc is a multi-line, multi-brand toy company. The Company designs, produces, markets and distributes toys and related products, pet toys, consumables and related products, electronics and related products, kids indoor and outdoor furniture, and other consumer products. The Company operates through two business segments: traditional toys and electronics, and role play, novelty and seasonal toys.
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