JAKKS Pacific Stock Rating Upgraded by Zacks (JAKK)
JAKKS Pacific (NASDAQ:JAKK) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Friday, AnalystRatingsNetwork reports. The firm currently has a $6.75 price objective on the stock. Zacks‘ target price points to a potential upside of 4.17% from the stock’s previous close.
Zacks‘ analyst wrote, “We are upgrading our recommendation on JAKKS Pacific to Neutral from Underperform based on better than expected third quarter results. After missing the Zacks Consensus Estimate for six consecutive quarters, JAKKS Pacific managed to beat the same in the third quarter of 2013. Jakks Pacific’s earnings of $1.11 per share beat the Zacks Consensus Estimate by 4.7% and the year-ago quarter earnings by 0.9%. A better-than-expected top line performance and operating margin expansion helped earnings during the quarter. Revenues plunged nearly 1.2% but beat the Zacks Consensus Estimate by 4.3%. Also, JAKK’s international expansion efforts as well as acquisitions/joint ventures have started yielding benefits. Going forward, we are optimistic about the company’s product launches and organic growth initiatives which include creating new products and securing new licenses. However, we prefer to remain on the sidelines currently, given the weak consumer spending environment and the decision to suspend dividend as a result of restructuring efforts.”
JAKK has been the subject of a number of other recent research reports. Analysts at BMO Capital Markets raised their price target on shares of JAKKS Pacific from $6.00 to $7.00 in a research note to investors on Friday, October 25th. They now have a “market perform” rating on the stock. Separately, analysts at B. Riley upgraded shares of JAKKS Pacific from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, October 24th. They now have a $8.50 price target on the stock, up previously from $4.50. Finally, analysts at Thomson Reuters/Verus downgraded shares of JAKKS Pacific from a “hold” rating to a “sell” rating in a research note to investors on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. JAKKS Pacific has an average rating of “Hold” and an average target price of $9.65.
Shares of JAKKS Pacific (NASDAQ:JAKK) traded down 2.08% on Friday, hitting $6.345. The stock had a trading volume of 62,815 shares. JAKKS Pacific has a 1-year low of $4.45 and a 1-year high of $13.67. The stock has a 50-day moving average of $6.44 and a 200-day moving average of $6.27. The company’s market cap is $139.1 million.
JAKKS Pacific (NASDAQ:JAKK) last released its earnings data on Wednesday, October 23rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.05. The company had revenue of $310.90 million for the quarter, compared to the consensus estimate of $297.88 million. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts predict that JAKKS Pacific will post $-2.51 earnings per share for the current fiscal year.
JAKKS Pacific, Inc (NASDAQ:JAKK) is a multi-line, multi-brand toy company that 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.
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