DA Davidson Cuts Mattel, Inc. (MAT) Price Target to $13.00
Mattel, Inc. (NASDAQ:MAT) had its target price reduced by analysts at DA Davidson from $14.00 to $13.00 in a research report issued on Friday. The firm presently has an “underperform” rating on the stock. DA Davidson’s price objective indicates a potential downside of 13.33% from the stock’s current price.
Several other research firms have also recently commented on MAT. BMO Capital Markets reaffirmed a “buy” rating on shares of Mattel in a research report on Wednesday, June 7th. Jefferies Group LLC started coverage on Mattel in a research report on Thursday, June 8th. They issued a “hold” rating and a $22.00 target price on the stock. Stifel Nicolaus reissued a “hold” rating and issued a $23.00 target price on shares of Mattel in a research report on Friday, June 9th. Monness Crespi & Hardt lowered their price objective on Mattel from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, June 15th. Finally, MKM Partners lowered their price objective on Mattel from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, July 3rd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $24.12.
Mattel (NASDAQ:MAT) traded down 2.07% during mid-day trading on Friday, hitting $14.69. 2,786,862 shares of the stock traded hands. Mattel has a 1-year low of $14.65 and a 1-year high of $33.23. The company has a 50-day moving average of $16.82 and a 200 day moving average of $21.28. The firm has a market capitalization of $5.03 billion, a P/E ratio of 21.08 and a beta of 0.87.
Mattel (NASDAQ:MAT) last announced its earnings results on Thursday, July 27th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $974.50 million for the quarter, compared to the consensus estimate of $972.36 million. Mattel had a net margin of 4.51% and a return on equity of 11.62%. Mattel’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.02) EPS. On average, equities research analysts anticipate that Mattel will post $0.79 EPS for the current year.
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In other Mattel news, CEO Mary Margaret Hasti Georgiadis purchased 12,660 shares of the stock in a transaction on Tuesday, August 1st. The shares were bought at an average price of $19.61 per share, for a total transaction of $248,262.60. Following the completion of the transaction, the chief executive officer now owns 116,788 shares of the company’s stock, valued at approximately $2,290,212.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.
Several large investors have recently bought and sold shares of MAT. UBS Asset Management Americas Inc. increased its holdings in shares of Mattel by 10.1% in the first quarter. UBS Asset Management Americas Inc. now owns 991,571 shares of the company’s stock valued at $25,394,000 after purchasing an additional 90,656 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Mattel by 29.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,402 shares of the company’s stock worth $651,000 after acquiring an additional 5,794 shares during the last quarter. State of Tennessee Treasury Department increased its stake in Mattel by 34.1% during the first quarter. State of Tennessee Treasury Department now owns 143,488 shares of the company’s stock worth $3,675,000 after acquiring an additional 36,458 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Mattel by 76.2% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 69,223 shares of the company’s stock worth $1,773,000 after acquiring an additional 29,947 shares during the last quarter. Finally, Oxford Asset Management acquired a new stake in Mattel during the first quarter worth $227,000. 93.81% of the stock is owned by hedge funds and other institutional investors.
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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