Citigroup Increases Mattel (NASDAQ:MAT) Price Target to $26.00

Mattel (NASDAQ:MAT) had its price objective lifted by Citigroup from $25.00 to $26.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also weighed in on MAT. Morgan Stanley reaffirmed an equal weight rating and issued a $19.00 price objective (down previously from $25.00) on shares of Mattel in a research note on Wednesday, January 17th. StockNews.com raised Mattel from a hold rating to a buy rating in a research note on Monday, February 26th. DA Davidson increased their price target on Mattel from $26.00 to $27.00 and gave the company a buy rating in a research note on Wednesday. JPMorgan Chase & Co. lowered Mattel from an overweight rating to a neutral rating and dropped their price target for the company from $24.00 to $19.00 in a research note on Monday, February 5th. Finally, Stifel Nicolaus dropped their price target on Mattel from $26.00 to $23.00 and set a buy rating for the company in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mattel currently has an average rating of Moderate Buy and an average target price of $22.78.

Mattel Stock Performance

Shares of MAT opened at $18.36 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 2.49 and a debt-to-equity ratio of 1.15. The business has a 50-day simple moving average of $19.27 and a two-hundred day simple moving average of $19.04. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.18 and a beta of 0.95. Mattel has a 52 week low of $16.20 and a 52 week high of $22.64.

Mattel (NASDAQ:MAT) last released its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $809.50 million during the quarter, compared to analyst estimates of $833.52 million. Mattel had a return on equity of 24.32% and a net margin of 5.38%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.24) earnings per share. On average, analysts expect that Mattel will post 1.4 EPS for the current year.

Institutional Investors Weigh In On Mattel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. purchased a new stake in Mattel during the first quarter valued at approximately $406,000. Krilogy Financial LLC raised its holdings in shares of Mattel by 31.1% in the first quarter. Krilogy Financial LLC now owns 55,656 shares of the company’s stock worth $1,103,000 after buying an additional 13,214 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Mattel by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 101,700 shares of the company’s stock worth $2,015,000 after buying an additional 2,500 shares during the period. State of Michigan Retirement System raised its holdings in shares of Mattel by 2.4% in the first quarter. State of Michigan Retirement System now owns 86,733 shares of the company’s stock worth $1,718,000 after buying an additional 2,000 shares during the period. Finally, Thompson Investment Management Inc. raised its holdings in shares of Mattel by 8.8% in the first quarter. Thompson Investment Management Inc. now owns 14,780 shares of the company’s stock worth $293,000 after buying an additional 1,200 shares during the period. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

About Mattel

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.