Citigroup Raises Mattel (NASDAQ:MAT) Price Target to $24.00

Mattel (NASDAQ:MAT) had its price objective hoisted by Citigroup from $22.00 to $24.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group lowered their target price on Mattel from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. DA Davidson reiterated a “buy” rating and issued a $30.00 price target on shares of Mattel in a report on Thursday, May 15th. Wall Street Zen raised Mattel from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Finally, Morgan Stanley upped their target price on shares of Mattel from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mattel has a consensus rating of “Moderate Buy” and an average price target of $24.43.

Mattel Trading Up 2.8%

MAT opened at $19.33 on Monday. The company has a current ratio of 2.38, a quick ratio of 2.00 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $6.24 billion, a PE ratio of 12.08, a PEG ratio of 2.35 and a beta of 0.66. Mattel has a 1-year low of $13.95 and a 1-year high of $22.07. The firm has a 50-day moving average price of $17.53 and a two-hundred day moving average price of $18.67.

Mattel (NASDAQ:MAT) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.08. The business had revenue of $826.60 million for the quarter, compared to analysts’ expectations of $791.49 million. Mattel had a net margin of 10.07% and a return on equity of 25.94%. Mattel’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. As a group, equities analysts anticipate that Mattel will post 1.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MAT. AlphaQuest LLC increased its holdings in Mattel by 13.0% in the first quarter. AlphaQuest LLC now owns 4,782 shares of the company’s stock valued at $93,000 after purchasing an additional 551 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Mattel by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 10,962 shares of the company’s stock worth $194,000 after buying an additional 601 shares during the period. Xponance Inc. raised its position in shares of Mattel by 1.6% in the 4th quarter. Xponance Inc. now owns 46,262 shares of the company’s stock valued at $820,000 after acquiring an additional 739 shares during the period. Yousif Capital Management LLC raised its position in shares of Mattel by 0.7% in the 1st quarter. Yousif Capital Management LLC now owns 119,902 shares of the company’s stock valued at $2,330,000 after acquiring an additional 884 shares during the period. Finally, Brighton Jones LLC boosted its stake in Mattel by 7.4% during the 1st quarter. Brighton Jones LLC now owns 12,972 shares of the company’s stock worth $252,000 after acquiring an additional 890 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors.

Mattel Company Profile

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.