Mattel (NASDAQ:MAT) Price Target Raised to $23.00

Mattel (NASDAQ:MAT) had its price target upped by Morgan Stanley from $22.00 to $23.00 in a research report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms have also issued reports on MAT. Jefferies Financial Group raised Mattel from a “hold” rating to a “buy” rating and upped their price target for the company from $20.00 to $28.00 in a research report on Wednesday. DA Davidson reissued a “buy” rating and set a $27.00 target price on shares of Mattel in a report on Thursday, October 24th. Bank of America raised their price target on shares of Mattel from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com downgraded shares of Mattel from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Mattel presently has an average rating of “Moderate Buy” and an average target price of $25.57.

Mattel Stock Performance

Mattel stock opened at $21.48 on Wednesday. Mattel has a 12-month low of $15.87 and a 12-month high of $21.88. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.45 and a quick ratio of 1.88. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.88 and a beta of 0.76. The firm’s fifty day moving average price is $18.56 and its 200 day moving average price is $18.85.

Mattel (NASDAQ:MAT) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.15. Mattel had a return on equity of 25.39% and a net margin of 10.24%. During the same quarter in the prior year, the firm posted $0.29 EPS. On average, research analysts forecast that Mattel will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Mattel

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of Mattel by 198.8% in the third quarter. SG Americas Securities LLC now owns 57,312 shares of the company’s stock worth $1,092,000 after acquiring an additional 38,134 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Mattel by 13.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 88,200 shares of the company’s stock worth $1,680,000 after purchasing an additional 10,300 shares during the period. GAMMA Investing LLC grew its position in Mattel by 38.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,797 shares of the company’s stock worth $53,000 after purchasing an additional 775 shares in the last quarter. UMB Bank n.a. raised its stake in Mattel by 584.3% during the 3rd quarter. UMB Bank n.a. now owns 1,485 shares of the company’s stock valued at $28,000 after purchasing an additional 1,268 shares during the period. Finally, Creative Planning raised its stake in Mattel by 42.8% during the 3rd quarter. Creative Planning now owns 15,026 shares of the company’s stock valued at $286,000 after purchasing an additional 4,504 shares during the period. 97.15% of the stock is currently owned by institutional investors and hedge funds.

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.