Mattel (NASDAQ:MAT) PT Raised to $27.00

Mattel (NASDAQ:MAT) had its target price hoisted by research analysts at DA Davidson from $26.00 to $27.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price target indicates a potential upside of 46.18% from the stock’s current price. DA Davidson also issued estimates for Mattel’s Q2 2024 earnings at $0.14 EPS, FY2024 earnings at $1.45 EPS and FY2025 earnings at $1.58 EPS.

A number of other equities research analysts have also recently commented on the company. Roth Mkm restated a “neutral” rating and set a $20.00 target price (down from $24.00) on shares of Mattel in a research report on Thursday, January 4th. Jefferies Financial Group lifted their price objective on Mattel from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, March 15th. TheStreet cut Mattel from a “b-” rating to a “c+” rating in a report on Wednesday, January 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $19.00 price objective (down from $25.00) on shares of Mattel in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. cut Mattel from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $24.00 to $19.00 in a report on Monday, February 5th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Mattel has a consensus rating of “Moderate Buy” and an average price target of $22.78.

Mattel Price Performance

Shares of MAT opened at $18.47 on Wednesday. The business’s 50-day moving average is $19.30 and its two-hundred day moving average is $19.08. The company has a market capitalization of $6.35 billion, a P/E ratio of 22.25, a P/E/G ratio of 1.25 and a beta of 0.95. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.90 and a current ratio of 2.33. Mattel has a fifty-two week low of $16.20 and a fifty-two week high of $22.64.

Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. The company had revenue of $809.50 million for the quarter, compared to the consensus estimate of $833.52 million. Mattel had a return on equity of 24.25% and a net margin of 5.38%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm earned ($0.24) EPS. Research analysts predict that Mattel will post 1.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Jericho Capital Asset Management L.P. purchased a new stake in shares of Mattel during the 3rd quarter valued at approximately $76,819,000. Stifel Financial Corp raised its position in shares of Mattel by 161.8% during the 3rd quarter. Stifel Financial Corp now owns 146,494 shares of the company’s stock valued at $3,227,000 after buying an additional 90,539 shares during the period. Seven Eight Capital LP raised its position in shares of Mattel by 548.8% during the 3rd quarter. Seven Eight Capital LP now owns 75,114 shares of the company’s stock valued at $1,655,000 after buying an additional 63,536 shares during the period. Trexquant Investment LP increased its holdings in Mattel by 256.4% in the 3rd quarter. Trexquant Investment LP now owns 287,342 shares of the company’s stock valued at $6,330,000 after purchasing an additional 206,729 shares during the last quarter. Finally, Xponance Inc. increased its holdings in Mattel by 6.1% in the 3rd quarter. Xponance Inc. now owns 45,618 shares of the company’s stock valued at $1,005,000 after purchasing an additional 2,629 shares during the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

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.