Mattel, Inc. (MAT) Price Target Raised to $27.00
Mattel, Inc. (NASDAQ:MAT) had its target price boosted by equities research analysts at Monness Crespi & Hardt from $22.00 to $27.00 in a report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Monness Crespi & Hardt’s target price indicates a potential upside of 71.54% from the stock’s current price.
A number of other equities research analysts also recently commented on the company. SunTrust Banks, Inc. reiterated a “hold” rating and set a $17.00 price objective (down previously from $22.00) on shares of Mattel in a research report on Tuesday, October 10th. DA Davidson cut their price objective on Mattel from $14.00 to $13.00 and set an “underperform” rating for the company in a research report on Friday, September 22nd. UBS AG reiterated a “buy” rating and set a $23.00 price objective on shares of Mattel in a research report on Saturday, September 16th. BidaskClub upgraded Mattel from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $17.00 price objective on shares of Mattel in a research report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $23.57.
Shares of Mattel (MAT) traded up 0.77% during trading on Wednesday, reaching $15.74. The company had a trading volume of 7,047,546 shares. The stock has a market capitalization of $5.39 billion, a PE ratio of 22.58 and a beta of 0.86. The stock’s 50-day moving average price is $15.56 and its 200-day moving average price is $19.98. Mattel has a 12 month low of $14.35 and a 12 month high of $33.23.
Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Thursday, July 27th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). Mattel had a net margin of 4.51% and a return on equity of 11.62%. The company had revenue of $974.50 million for the quarter, compared to analyst estimates of $972.36 million. During the same quarter last year, the company posted ($0.02) EPS. Mattel’s revenue was up 1.8% on a year-over-year basis. Equities analysts forecast that Mattel will post $0.76 earnings per share for the current fiscal year.
In related news, CEO Mary Margaret Hasti Georgiadis purchased 12,660 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average cost of $19.61 per share, with a total value of $248,262.60. Following the completion of the purchase, the chief executive officer now owns 116,788 shares of the company’s stock, valued at approximately $2,290,212.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Highlander Capital Management LLC acquired a new position in Mattel during the second quarter worth $105,000. Penserra Capital Management LLC increased its position in Mattel by 26.6% during the second quarter. Penserra Capital Management LLC now owns 6,117 shares of the company’s stock worth $131,000 after buying an additional 1,287 shares during the last quarter. Delta Asset Management LLC TN increased its position in Mattel by 54.7% during the second quarter. Delta Asset Management LLC TN now owns 6,150 shares of the company’s stock worth $133,000 after buying an additional 2,175 shares during the last quarter. ETF Managers Group LLC acquired a new position in Mattel during the second quarter worth $195,000. Finally, Nations Financial Group Inc. IA ADV increased its position in Mattel by 11.4% during the second quarter. Nations Financial Group Inc. IA ADV now owns 9,764 shares of the company’s stock worth $210,000 after buying an additional 1,003 shares during the last quarter. 93.81% of the stock is currently owned by hedge funds and other institutional investors.
Mattel Company Profile
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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