Mattel (NASDAQ:MAT) Price Target Raised to $27.00 at DA Davidson

Mattel (NASDAQ:MAT) had its target price raised by DA Davidson from $26.00 to $27.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock. DA Davidson also issued estimates for Mattel’s Q2 2024 earnings at $0.14 EPS, FY2024 earnings at $1.45 EPS and FY2025 earnings at $1.58 EPS.

A number of other brokerages also recently issued reports on MAT. TheStreet downgraded shares of Mattel from a b- rating to a c+ rating in a research report on Wednesday, January 24th. Morgan Stanley reaffirmed an equal weight rating and issued a $19.00 price objective (down from $25.00) on shares of Mattel in a research report on Wednesday, January 17th. Jefferies Financial Group upped their price objective on shares of Mattel from $19.00 to $20.00 and gave the stock a hold rating in a research report on Friday, March 15th. Roth Mkm reiterated a neutral rating and issued a $20.00 target price (down from $24.00) on shares of Mattel in a research note on Thursday, January 4th. Finally, Stifel Nicolaus dropped their target price on shares of Mattel from $26.00 to $23.00 and set a buy rating on the stock in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $22.78.

Mattel Price Performance

Shares of NASDAQ MAT opened at $18.36 on Wednesday. The firm’s 50-day moving average price is $19.27 and its 200-day moving average price is $19.04. Mattel has a 1-year low of $16.20 and a 1-year high of $22.64. The firm has a market capitalization of $6.32 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.18 and a beta of 0.95. The company has a current ratio of 2.49, a quick ratio of 1.90 and a debt-to-equity ratio of 1.15.

Mattel (NASDAQ:MAT) last posted its earnings results on Tuesday, April 23rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.07. The company had revenue of $809.50 million during the quarter, compared to the consensus estimate of $833.52 million. Mattel had a net margin of 5.38% and a return on equity of 24.32%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.24) earnings per share. Equities research analysts anticipate that Mattel will post 1.4 earnings per share for the current fiscal year.

Institutional Trading of Mattel

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Mattel by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 34,317,700 shares of the company’s stock worth $756,019,000 after buying an additional 142,123 shares during the last quarter. Capital International Investors increased its holdings in shares of Mattel by 7.4% in the 4th quarter. Capital International Investors now owns 18,386,007 shares of the company’s stock worth $347,128,000 after buying an additional 1,272,018 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Mattel by 12.9% in the 4th quarter. Victory Capital Management Inc. now owns 7,541,422 shares of the company’s stock worth $142,382,000 after buying an additional 861,638 shares during the last quarter. HS Management Partners LLC increased its holdings in shares of Mattel by 21.5% in the 4th quarter. HS Management Partners LLC now owns 4,603,400 shares of the company’s stock worth $86,912,000 after buying an additional 813,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Mattel by 21.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,039,571 shares of the company’s stock worth $76,272,000 after buying an additional 716,558 shares during the last quarter. 97.15% of the stock is currently owned by hedge funds and other 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.