Mattel (NASDAQ:MAT) Price Target Raised to $28.00 at Bank of America

Mattel (NASDAQ:MAT) had its price objective increased by Bank of America from $26.00 to $28.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday. DA Davidson reiterated a “buy” rating and set a $27.00 price objective on shares of Mattel in a research report on Thursday. Morgan Stanley upped their price objective on shares of Mattel from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday. Jefferies Financial Group raised their price target on shares of Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, October 1st. Finally, StockNews.com upgraded Mattel from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.75.

Mattel Stock Performance

Shares of NASDAQ:MAT traded up $0.68 during trading on Thursday, hitting $19.25. The stock had a trading volume of 225,532 shares, compared to its average volume of 3,132,098. The company has a quick ratio of 1.81, a current ratio of 2.58 and a debt-to-equity ratio of 1.18. The stock has a 50-day simple moving average of $18.98 and a two-hundred day simple moving average of $18.28. Mattel has a 12-month low of $15.87 and a 12-month high of $20.48. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 1.25 and a beta of 0.79.

Mattel (NASDAQ:MAT) last posted its earnings results on Wednesday, October 23rd. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.19. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Mattel had a return on equity of 25.72% and a net margin of 5.94%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm earned $1.08 EPS. On average, equities research analysts expect that Mattel will post 1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mattel

Several institutional investors have recently modified their holdings of the company. UMB Bank n.a. increased its stake in Mattel by 584.3% in the third quarter. UMB Bank n.a. now owns 1,485 shares of the company’s stock valued at $28,000 after purchasing an additional 1,268 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Mattel during the third quarter valued at about $29,000. GAMMA Investing LLC lifted its stake in shares of Mattel by 108.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,022 shares of the company’s stock valued at $33,000 after purchasing an additional 1,052 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Mattel by 143.2% during the 2nd quarter. Blue Trust Inc. now owns 2,072 shares of the company’s stock worth $34,000 after purchasing an additional 1,220 shares during the period. Finally, CWM LLC lifted its position in Mattel by 71.0% during the second quarter. CWM LLC now owns 2,641 shares of the company’s stock valued at $43,000 after buying an additional 1,097 shares in the last quarter. 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.