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

Mattel (NASDAQ:MAT) had its target price increased by analysts at Bank of America from $26.00 to $28.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 47.37% from the company’s previous close.

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

Mattel Price Performance

Shares of NASDAQ:MAT opened at $19.00 on Thursday. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 0.99 and a beta of 0.79. The business has a 50 day moving average price of $18.97 and a 200 day moving average price of $18.28. The company has a quick ratio of 1.81, a current ratio of 2.58 and a debt-to-equity ratio of 1.18. Mattel has a twelve month low of $15.87 and a twelve month high of $20.48.

Mattel (NASDAQ:MAT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $1.14 earnings per share for the quarter, beating 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 company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business earned $1.08 earnings per share. Mattel’s revenue for the quarter was down 3.9% compared to the same quarter last year. Research analysts predict that Mattel will post 1.44 earnings per share for the current year.

Institutional Trading of Mattel

A number of large investors have recently bought and sold shares of MAT. Capital International Investors lifted its holdings in shares of Mattel by 4.6% during the first quarter. Capital International Investors now owns 19,231,375 shares of the company’s stock valued at $380,974,000 after acquiring an additional 845,368 shares during the period. Ariel Investments LLC increased its position in shares of Mattel by 0.7% during the 1st quarter. Ariel Investments LLC now owns 15,583,293 shares of the company’s stock worth $308,705,000 after purchasing an additional 112,786 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Mattel by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,685,291 shares of the company’s stock valued at $231,487,000 after purchasing an additional 180,855 shares during the last quarter. Pacer Advisors Inc. boosted its position in Mattel by 20,152.4% in the second quarter. Pacer Advisors Inc. now owns 10,995,234 shares of the company’s stock valued at $178,783,000 after buying an additional 10,940,943 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Mattel by 34.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,794,138 shares of the company’s stock worth $94,215,000 after buying an additional 1,479,227 shares during the last quarter. 97.15% of the stock is currently owned by 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.