Mattel (NASDAQ:MAT) Price Target Raised to $22.00

Mattel (NASDAQ:MAT) had its target price increased by Roth Mkm from $20.00 to $22.00 in a report published on Wednesday morning, Marketbeat.com reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also recently weighed in on MAT. Cfra Research cut Mattel from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Zacks Research cut Mattel from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. The Goldman Sachs Group lowered shares of Mattel from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research note on Friday, January 9th. JPMorgan Chase & Co. reduced their price target on shares of Mattel from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, DA Davidson dropped their price objective on shares of Mattel from $30.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 22nd. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.86.

Mattel Stock Performance

NASDAQ MAT opened at $21.49 on Wednesday. Mattel has a fifty-two week low of $13.94 and a fifty-two week high of $22.25. The firm has a market capitalization of $6.68 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 2.23 and a beta of 0.70. The stock’s fifty day moving average is $20.73 and its two-hundred day moving average is $19.10. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.18 and a current ratio of 1.60.

Hedge Funds Weigh In On Mattel

A number of large investors have recently modified their holdings of MAT. EdgePoint Investment Group Inc. grew its holdings in shares of Mattel by 12.9% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 40,823,584 shares of the company’s stock worth $805,041,000 after acquiring an additional 4,665,541 shares during the period. Mane Global Capital Management LP purchased a new stake in Mattel during the second quarter worth $56,619,000. Norges Bank acquired a new stake in Mattel in the second quarter valued at $55,651,000. Simcoe Capital Management LLC purchased a new position in shares of Mattel in the third quarter valued at $39,044,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Mattel by 4,633.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,581,292 shares of the company’s stock worth $26,613,000 after buying an additional 1,547,888 shares during the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

About Mattel

Mattel, Inc is a leading global toy company headquartered in El Segundo, California. Founded in 1945 by Harold “Matt” Matson and Elliot and Ruth Handler, the company has grown into a major player in the toy and family products industry. Mattel designs, manufactures, and markets a broad range of toys, games and entertainment products under well-known brands, including Barbie, Hot Wheels, Fisher-Price, American Girl, Thomas & Friends, UNO and Matchbox. In addition to its proprietary labels, Mattel holds licenses with global entertainment franchises, partnering with Disney, Warner Bros., WWE and other studios to create character-driven play experiences.