Mattel (NASDAQ:MAT) Given New $26.00 Price Target at Bank of America

Mattel (NASDAQ:MAT) had its price objective increased by Bank of America from $25.00 to $26.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut Mattel from an overweight rating to a neutral rating and lowered their price target for the stock from $24.00 to $19.00 in a report on Monday, February 5th. TheStreet cut Mattel from a b- rating to a c+ rating in a report on Wednesday, January 24th. StockNews.com upgraded Mattel from a hold rating to a buy rating in a report on Monday, February 26th. Roth Capital cut Mattel from a buy rating to a neutral rating in a report on Thursday, January 4th. Finally, Stifel Nicolaus lowered their price target on Mattel from $26.00 to $23.00 and set a buy rating for the company in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Mattel presently has an average rating of Moderate Buy and an average target price of $22.78.

Mattel Stock Up 2.4 %

Shares of MAT opened at $19.18 on Wednesday. Mattel has a 52-week low of $16.20 and a 52-week high of $22.64. The company has a market capitalization of $6.60 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95. The stock has a fifty day simple moving average of $19.30 and a two-hundred day simple moving average of $19.08. The company has a quick ratio of 1.90, a current ratio of 2.33 and a debt-to-equity ratio of 1.08.

Mattel (NASDAQ:MAT) last issued its earnings results on Tuesday, April 23rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. Mattel had a return on equity of 24.25% and a net margin of 5.38%. The business had revenue of $809.50 million during the quarter, compared to the consensus estimate of $833.52 million. During the same period last year, the company earned ($0.24) EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts forecast that Mattel will post 1.37 EPS for the current year.

Hedge Funds Weigh In On Mattel

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Trust Co. of Vermont boosted its stake in shares of Mattel by 833.3% in the 3rd quarter. Trust Co. of Vermont now owns 1,120 shares of the company’s stock valued at $25,000 after buying an additional 1,000 shares during the period. Clearstead Advisors LLC purchased a new position in shares of Mattel in the 3rd quarter valued at about $52,000. Y.D. More Investments Ltd purchased a new position in shares of Mattel in the 3rd quarter valued at about $53,000. Fifth Third Bancorp boosted its stake in shares of Mattel by 23.3% in the 3rd quarter. Fifth Third Bancorp now owns 2,908 shares of the company’s stock valued at $64,000 after buying an additional 550 shares during the period. Finally, Partnership Wealth Management LLC purchased a new position in shares of Mattel in the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.

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.