Mattel, Inc. (MAT) Price Target Lowered to $17.00 at Stifel Nicolaus
Mattel, Inc. (NASDAQ:MAT) had its target price lowered by analysts at Stifel Nicolaus from $19.00 to $17.00 in a research report issued to clients and investors on Thursday. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 7.94% from the stock’s previous close.
Several other research firms have also recently commented on MAT. Jefferies Group LLC reiterated a “hold” rating and set a $19.00 price target on shares of Mattel in a report on Monday, June 19th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $22.00 price target (down previously from $25.00) on shares of Mattel in a report on Friday, June 16th. DA Davidson cut shares of Mattel from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $30.00 to $24.00 in a report on Thursday, June 15th. Barclays PLC lowered their price target on shares of Mattel from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, June 16th. Finally, UBS AG restated a “buy” rating and issued a $26.00 target price (down previously from $29.00) on shares of Mattel in a report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Mattel currently has a consensus rating of “Hold” and a consensus price target of $23.57.
Shares of Mattel (NASDAQ MAT) traded up 0.06% during midday trading on Thursday, reaching $15.75. 6,435,645 shares of the company’s stock traded hands. Mattel has a 1-year low of $14.35 and a 1-year high of $33.23. The firm’s 50-day moving average price is $15.56 and its 200 day moving average price is $19.98. The stock has a market capitalization of $5.40 billion, a P/E ratio of 22.60 and a beta of 0.86.
Mattel (NASDAQ:MAT) last posted its quarterly earnings results on Thursday, July 27th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). Mattel had a negative return on equity of 10.50% and a negative net margin of 5.75%. The firm had revenue of $974.50 million for the quarter, compared to analyst estimates of $972.36 million. During the same quarter last year, the firm earned ($0.02) EPS. The company’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts predict that Mattel will post $0.76 earnings per share for the current fiscal year.
In other Mattel news, CEO Mary Margaret Hasti Georgiadis purchased 12,660 shares of Mattel stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average price of $19.61 per share, for a total transaction of $248,262.60. Following the transaction, the chief executive officer now directly owns 116,788 shares in the company, valued at $2,290,212.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Intact Investment Management Inc. raised its position in Mattel by 14.0% in the 2nd quarter. Intact Investment Management Inc. now owns 93,100 shares of the company’s stock valued at $2,004,000 after purchasing an additional 11,400 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in Mattel by 43.8% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 147,083 shares of the company’s stock valued at $3,167,000 after purchasing an additional 44,802 shares during the last quarter. State of Wisconsin Investment Board raised its position in Mattel by 31.1% in the 2nd quarter. State of Wisconsin Investment Board now owns 298,972 shares of the company’s stock valued at $6,437,000 after purchasing an additional 70,840 shares during the last quarter. Greenwood Capital Associates LLC purchased a new stake in Mattel in the 2nd quarter valued at $287,000. Finally, Penserra Capital Management LLC raised its position in Mattel by 26.6% in the 2nd quarter. Penserra Capital Management LLC now owns 6,117 shares of the company’s stock valued at $131,000 after purchasing an additional 1,287 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.
Mattel, Inc manufactures and markets a range of toy products around the world. The Company’s segments are North America; International, and American Girl. Its portfolio of brands and products are grouped into approximately four major brand categories, including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands and Construction and Arts & Crafts Brands.
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