Mattel (NASDAQ:MAT – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.
MAT has been the topic of several other reports. Jefferies Financial Group increased their price objective on Mattel from $18.25 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. upped their price target on shares of Mattel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. DA Davidson reissued a “buy” rating and issued a $27.00 target price on shares of Mattel in a research note on Thursday, October 24th. Bank of America raised their price target on Mattel from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley lifted their target price on shares of Mattel from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Mattel has a consensus rating of “Moderate Buy” and an average price target of $23.75.
View Our Latest Report on Mattel
Mattel Stock Performance
Mattel (NASDAQ:MAT – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.19. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. Mattel had a net margin of 10.24% and a return on equity of 25.39%. Mattel’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 earnings per share. As a group, equities analysts predict that Mattel will post 1.46 EPS for the current fiscal year.
Institutional Investors Weigh In On Mattel
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its position in Mattel by 20,152.4% during the second quarter. Pacer Advisors Inc. now owns 10,995,234 shares of the company’s stock valued at $178,783,000 after purchasing an additional 10,940,943 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Mattel by 84.0% during the 3rd quarter. Franklin Resources Inc. now owns 9,352,223 shares of the company’s stock valued at $176,757,000 after buying an additional 4,270,162 shares in the last quarter. LSV Asset Management bought a new position in shares of Mattel during the 2nd quarter valued at approximately $32,559,000. Dimensional Fund Advisors LP increased its holdings in Mattel by 34.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,794,138 shares of the company’s stock worth $94,215,000 after acquiring an additional 1,479,227 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Mattel by 92.5% during the 2nd quarter. Millennium Management LLC now owns 2,456,754 shares of the company’s stock worth $39,947,000 after acquiring an additional 1,180,301 shares during the period. Hedge funds and other institutional investors own 97.15% of the company’s stock.
About Mattel
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.
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