Mattel Inc. (MAT) Rating Reiterated by Jefferies Group
Mattel Inc. (NASDAQ:MAT)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group in a research note issued to investors on Thursday. They presently have a $36.00 price target on the stock. Jefferies Group’s price target would indicate a potential upside of 19.60% from the company’s current price.
Several other research analysts also recently weighed in on MAT. MKM Partners upgraded shares of Mattel from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Monday, October 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $40.00 price target on shares of Mattel in a research report on Tuesday, October 4th. Zacks Investment Research upgraded shares of Mattel from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, September 21st. Monness Crespi & Hardt upgraded shares of Mattel from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Monday, September 19th. Finally, Vetr upgraded shares of Mattel from a “buy” rating to a “strong-buy” rating and set a $41.14 price target on the stock in a research report on Monday, August 29th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Mattel presently has a consensus rating of “Buy” and a consensus target price of $35.48.
Mattel (NASDAQ:MAT) opened at 30.10 on Thursday. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 29.80 and a beta of 0.99. The company has a 50-day moving average of $31.54 and a 200 day moving average of $32.08. Mattel has a 12 month low of $22.63 and a 12 month high of $34.76.
Mattel (NASDAQ:MAT) last issued its quarterly earnings data on Wednesday, July 20th. The company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.03. The company had revenue of $957.30 million for the quarter, compared to the consensus estimate of $937.85 million. Mattel had a net margin of 6.17% and a return on equity of 16.23%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share. On average, equities research analysts anticipate that Mattel will post $1.34 earnings per share for the current fiscal year.
In related news, EVP Geoffrey H. Walker sold 7,128 shares of Mattel stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $33.57, for a total transaction of $239,286.96. Following the completion of the transaction, the executive vice president now directly owns 39,348 shares of the company’s stock, valued at approximately $1,320,912.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.88% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Simmons Bank bought a new stake in shares of Mattel during the first quarter worth $1,590,000. Geode Capital Management LLC raised its stake in shares of Mattel by 3.1% in the first quarter. Geode Capital Management LLC now owns 2,914,904 shares of the company’s stock worth $97,809,000 after buying an additional 88,264 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Mattel by 1.3% in the first quarter. Pictet Asset Management Ltd. now owns 222,031 shares of the company’s stock worth $7,220,000 after buying an additional 2,800 shares during the last quarter. Pacific Global Investment Management CO bought a new stake in shares of Mattel during the first quarter worth $237,000. Finally, Scotia Capital Inc. bought a new stake in shares of Mattel during the first quarter worth $1,106,000. 95.49% of the stock is owned by hedge funds and other institutional investors.
Mattel Company Profile
Mattel, Inc manufactures and markets a range of toy products around the world. The Company’s segments are North America; International and American Girl. Its portfolio of brands and products are grouped into approximately four major brand categories, including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands and Construction and Arts & Crafts Brands.
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