JAKKS Pacific (JAKK) Upgraded by Zacks Investment Research to “Hold”

JAKKS Pacific (NASDAQ:JAKK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “JAKKS Pacific’s adjusted loss of 61 cents per share was wider than the Zacks Consensus Estimate of a loss of 11 cents and the year-ago quarter’s loss of 47 cents. Net sales in the fourth quarter totaled $136.6 million, lagging the consensus mark by 12.4% and falling 18.2% year over year. The challenging industry scenario for traditional toymakers has affected JAKKS Pacific’s fourth-quarter results. Tighter retail inventory management and the recent Toys ‘R’ Us bankruptcy filing added to the woes. Notably, the company’s earnings have been under pressure, incurring losses in nine of the 12 trailing quarters. Rising costs, adverse forex translations, age compression and the shift to alternative modes of entertainment remain threats to the top line. Consequently, shares of the company have underperformed its industry in the past year.”

Separately, BMO Capital Markets restated a “hold” rating and set a $3.50 price objective on shares of JAKKS Pacific in a research note on Monday, November 27th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. JAKKS Pacific currently has a consensus rating of “Hold” and an average price target of $2.89.

Shares of JAKKS Pacific (NASDAQ JAKK) traded down $0.10 during trading hours on Monday, hitting $2.25. The company had a trading volume of 33,743 shares, compared to its average volume of 173,660. The stock has a market cap of $63.42, a P/E ratio of -0.58, a P/E/G ratio of 3.28 and a beta of 0.78. The company has a current ratio of 2.08, a quick ratio of 1.65 and a debt-to-equity ratio of 1.41. JAKKS Pacific has a 1-year low of $2.10 and a 1-year high of $5.80.

JAKKS Pacific (NASDAQ:JAKK) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.50). JAKKS Pacific had a negative net margin of 13.55% and a negative return on equity of 22.00%. The business had revenue of $136.63 million for the quarter, compared to analyst estimates of $155.74 million. During the same quarter last year, the business earned ($0.47) EPS. JAKKS Pacific’s revenue for the quarter was down 18.2% compared to the same quarter last year. equities research analysts expect that JAKKS Pacific will post 0.14 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of JAKK. Walthausen & Co. LLC grew its stake in JAKKS Pacific by 668.6% during the 3rd quarter. Walthausen & Co. LLC now owns 774,300 shares of the company’s stock valued at $2,323,000 after purchasing an additional 673,560 shares in the last quarter. Renaissance Technologies LLC grew its stake in JAKKS Pacific by 9.6% during the 4th quarter. Renaissance Technologies LLC now owns 2,069,500 shares of the company’s stock valued at $4,863,000 after purchasing an additional 182,100 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in JAKKS Pacific by 273.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 91,550 shares of the company’s stock valued at $366,000 after purchasing an additional 67,020 shares in the last quarter. Virtu Financial LLC acquired a new stake in JAKKS Pacific during the 4th quarter valued at approximately $149,000. Finally, Wells Fargo & Company MN grew its stake in JAKKS Pacific by 20,020.5% during the 3rd quarter. Wells Fargo & Company MN now owns 51,911 shares of the company’s stock valued at $155,000 after purchasing an additional 51,653 shares in the last quarter. Hedge funds and other institutional investors own 48.11% of the company’s stock.

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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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