Mattel (NASDAQ:MAT) Downgraded by StockNews.com to “Hold”

Mattel (NASDAQ:MAT) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

A number of other brokerages also recently issued reports on MAT. Jefferies Financial Group raised their target price on Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, October 1st. Bank of America raised their price objective on shares of Mattel from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Mattel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Monday. DA Davidson restated a “buy” rating and set a $27.00 price target on shares of Mattel in a report on Thursday. Finally, Morgan Stanley upped their price objective on Mattel from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Mattel has a consensus rating of “Hold” and a consensus target price of $23.75.

Mattel Price Performance

MAT traded up $0.79 on Thursday, reaching $18.57. 4,836,099 shares of the company’s stock were exchanged, compared to its average volume of 3,146,207. Mattel has a twelve month low of $15.87 and a twelve month high of $20.48. The stock has a market cap of $6.39 billion, a PE ratio of 22.37, a P/E/G ratio of 1.25 and a beta of 0.79. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.58 and a quick ratio of 1.81. The stock’s fifty day moving average price is $18.98 and its 200-day moving average price is $18.28.

Mattel (NASDAQ:MAT) last issued its earnings results on Wednesday, October 23rd. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.19. Mattel had a return on equity of 25.72% and a net margin of 5.94%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the firm posted $1.08 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts expect that Mattel will post 1.43 EPS for the current year.

Institutional Investors Weigh In On Mattel

Institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue grew its position in Mattel by 3.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 39,484 shares of the company’s stock valued at $752,000 after acquiring an additional 1,160 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Mattel during the 3rd quarter worth approximately $108,000. Brighton Jones LLC acquired a new stake in Mattel during the 3rd quarter worth approximately $228,000. Blue Trust Inc. boosted its position in Mattel by 74.2% in the 3rd quarter. Blue Trust Inc. now owns 3,610 shares of the company’s stock valued at $69,000 after buying an additional 1,538 shares during the period. Finally, Aaron Wealth Advisors LLC acquired a new position in shares of Mattel in the third quarter worth $217,000. 97.15% of the stock is owned by institutional investors and hedge funds.

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.