Jakks Pacific Inc. (JAKK) Rating Increased to Buy at Zacks Investment Research
Jakks Pacific Inc. (NASDAQ:JAKK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $9.50 price target on the stock. Zacks Investment Research’s target price indicates a potential upside of 11.76% from the stock’s current price.
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.”
JAKK has been the topic of several other reports. B. Riley restated a “neutral” rating and set a $8.25 target price on shares of Jakks Pacific in a report on Wednesday, May 25th. Piper Jaffray Cos. restated an “overweight” rating and set a $11.00 target price on shares of Jakks Pacific in a report on Monday, May 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Jakks Pacific has a consensus rating of “Buy” and a consensus price target of $11.58.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/jakks-pacific-inc-jakk-rating-increased-to-buy-at-zacks-investment-research.html
Jakks Pacific (NASDAQ:JAKK) traded up 0.24% on Tuesday, reaching $8.52. The company’s stock had a trading volume of 34,368 shares. The stock’s 50 day moving average is $9.16 and its 200-day moving average is $8.08. Jakks Pacific has a 52 week low of $6.17 and a 52 week high of $9.75. The firm has a market capitalization of $137.62 million, a PE ratio of 16.26 and a beta of 0.34.
Jakks Pacific (NASDAQ:JAKK) last announced its quarterly earnings data on Wednesday, July 20th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. Jakks Pacific had a return on equity of 10.42% and a net margin of 2.00%. The business earned $141 million during the quarter, compared to analyst estimates of $134.80 million. During the same period last year, the company earned ($0.30) earnings per share. Jakks Pacific’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts predict that Jakks Pacific will post $0.79 EPS for the current year.
In other news, major shareholder Patrick Soon-Shiong sold 28,187 shares of Jakks Pacific stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $7.85, for a total value of $221,267.95. Following the transaction, the insider now directly owns 239,622 shares in the company, valued at $1,881,032.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC raised its position in Jakks Pacific by 105.5% in the second quarter. Acrospire Investment Management LLC now owns 16,976 shares of the company’s stock worth $134,000 after buying an additional 8,714 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Jakks Pacific during the first quarter worth $141,000. Highbridge Capital Management LLC purchased a new stake in Jakks Pacific during the second quarter worth $162,000. Goldman Sachs Group Inc. purchased a new stake in Jakks Pacific during the first quarter worth $163,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in Jakks Pacific during the second quarter worth $200,000.
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.
Receive News & Ratings for Jakks Pacific Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jakks Pacific Inc. and related companies with MarketBeat.com's FREE daily email newsletter.