Mattel (NASDAQ:MAT) Cut to “Hold” at StockNews.com

Mattel (NASDAQ:MAT) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other research analysts have also weighed in on the stock. Bank of America raised their price target on shares of Mattel from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. DA Davidson restated a “buy” rating and issued a $27.00 target price on shares of Mattel in a research report on Thursday, October 24th. Morgan Stanley boosted their price target on Mattel from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Jefferies Financial Group raised their price objective on Mattel from $18.25 to $20.00 and gave the company a “hold” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Mattel has an average rating of “Hold” and an average target price of $23.75.

Mattel Price Performance

Shares of MAT stock traded down $0.32 during trading hours on Wednesday, hitting $17.86. 2,430,464 shares of the company’s stock were exchanged, compared to its average volume of 2,601,111. Mattel has a fifty-two week low of $15.87 and a fifty-two week high of $20.59. The firm has a market cap of $6.02 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.97 and a beta of 0.75. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average of $18.59 and a two-hundred day moving average of $18.61.

Mattel (NASDAQ:MAT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.95 by $0.19. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. Mattel had a net margin of 10.24% and a return on equity of 25.39%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. Sell-side analysts forecast that Mattel will post 1.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MAT. Nisa Investment Advisors LLC grew its holdings in shares of Mattel by 2.8% in the third quarter. Nisa Investment Advisors LLC now owns 25,795 shares of the company’s stock valued at $491,000 after purchasing an additional 693 shares during the period. GAMMA Investing LLC boosted its holdings in Mattel by 26.6% in the 4th quarter. GAMMA Investing LLC now owns 3,541 shares of the company’s stock valued at $63,000 after purchasing an additional 744 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Mattel by 3.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 39,484 shares of the company’s stock valued at $752,000 after buying an additional 1,160 shares during the period. KBC Group NV increased its holdings in shares of Mattel by 13.8% during the 3rd quarter. KBC Group NV now owns 10,166 shares of the company’s stock worth $194,000 after buying an additional 1,229 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of 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 buying an additional 1,268 shares during the period. Hedge funds and other institutional investors own 97.15% of the company’s stock.

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.