Wall Street Zen Downgrades Mattel (NASDAQ:MAT) to Hold

Mattel (NASDAQ:MAT) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Friday.

MAT has been the topic of several other reports. DA Davidson restated a “buy” rating and issued a $30.00 target price on shares of Mattel in a research report on Thursday, May 15th. Morgan Stanley raised their target price on Mattel from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Citigroup raised their target price on Mattel from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, June 16th. Finally, The Goldman Sachs Group lowered their target price on Mattel from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.43.

Mattel Stock Up 1.7%

Shares of Mattel stock opened at $19.80 on Friday. The company has a current ratio of 2.43, a quick ratio of 1.86 and a debt-to-equity ratio of 1.10. The business’s 50 day simple moving average is $18.27 and its 200-day simple moving average is $18.67. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 2.03 and a beta of 0.66. Mattel has a twelve month low of $13.95 and a twelve month high of $22.07.

Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.08. The business had revenue of $826.60 million for the quarter, compared to analysts’ expectations of $791.49 million. Mattel had a return on equity of 25.80% and a net margin of 9.82%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) EPS. Equities research analysts forecast that Mattel will post 1.7 earnings per share for the current year.

Hedge Funds Weigh In On Mattel

Hedge funds have recently modified their holdings of the company. Trust Co. of Vermont increased its position in shares of Mattel by 995.8% during the 1st quarter. Trust Co. of Vermont now owns 1,315 shares of the company’s stock valued at $26,000 after purchasing an additional 1,195 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Mattel by 150.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,543 shares of the company’s stock valued at $27,000 after purchasing an additional 926 shares during the period. TD Private Client Wealth LLC acquired a new position in shares of Mattel during the 4th quarter valued at $51,000. Fifth Third Bancorp increased its position in shares of Mattel by 52.9% during the 1st quarter. Fifth Third Bancorp now owns 2,780 shares of the company’s stock valued at $54,000 after purchasing an additional 962 shares during the period. Finally, Quarry LP increased its position in shares of Mattel by 130.3% during the 4th quarter. Quarry LP now owns 3,148 shares of the company’s stock valued at $56,000 after purchasing an additional 1,781 shares during the period. 97.15% of the stock is currently 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.