Jakks Pacific Inc. (NASDAQ:JAKK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $9.50 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 11.76% from the company’s previous close.

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.”

Several other research analysts have also commented on the company. Piper Jaffray Cos. reissued an “overweight” rating and issued a $11.00 price objective on shares of Jakks Pacific in a research report on Monday, May 23rd. B. Riley reissued a “neutral” rating and issued a $10.00 price objective on shares of Jakks Pacific in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $11.58.

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Jakks Pacific (NASDAQ:JAKK) remained flat at $8.50 during mid-day trading on Tuesday. 33,102 shares of the stock traded hands. The stock has a market capitalization of $137.29 million, a price-to-earnings ratio of 16.22 and a beta of 0.34. Jakks Pacific has a 52-week low of $6.17 and a 52-week high of $9.75. The company’s 50-day moving average price is $9.16 and its 200-day moving average price is $8.08.

Jakks Pacific (NASDAQ:JAKK) last released its quarterly earnings data on Wednesday, July 20th. The company reported ($0.27) EPS for the quarter, beating the 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 company had revenue of $141 million for the quarter, compared to analyst estimates of $134.80 million. During the same period last year, the company posted ($0.30) earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts forecast that Jakks Pacific will post $0.79 earnings per share for the current year.

In other news, major shareholder Patrick Soon-Shiong sold 37,185 shares of the firm’s stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $7.84, for a total transaction of $291,530.40. Following the completion of the sale, the insider now directly owns 239,622 shares in the company, valued at $1,878,636.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in JAKK. Palo Capital acquired a new stake in shares of Jakks Pacific during the third quarter valued at $89,000. Acrospire Investment Management LLC increased 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 period. OMERS ADMINISTRATION Corp purchased a new position in Jakks Pacific during the first quarter worth approximately $141,000. Highbridge Capital Management LLC purchased a new position in Jakks Pacific during the second quarter worth approximately $162,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Jakks Pacific during the first quarter worth approximately $153,000.

About Jakks Pacific

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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