Morgan Stanley Increases Mattel (NASDAQ:MAT) Price Target to $22.00

Mattel (NASDAQ:MAT) had its target price upped by investment analysts at Morgan Stanley from $21.00 to $22.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 15.79% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Jefferies Financial Group upped their price objective on shares of Mattel from $18.25 to $20.00 and gave the company a “hold” rating in a report on Tuesday, October 1st. DA Davidson reiterated a “buy” rating and issued a $27.00 price target on shares of Mattel in a research note on Thursday. StockNews.com raised shares of Mattel from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. boosted their price objective on Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.75.

Mattel Trading Up 2.3 %

Mattel stock opened at $19.00 on Thursday. The stock has a 50-day simple moving average of $18.97 and a 200 day simple moving average of $18.28. The stock has a market capitalization of $6.46 billion, a P/E ratio of 20.65, a PEG ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.81 and a current ratio of 2.58. Mattel has a 52 week low of $15.87 and a 52 week high of $20.48.

Mattel (NASDAQ:MAT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.19. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Mattel had a return on equity of 25.72% and a net margin of 5.94%. The business’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm posted $1.08 earnings per share. Analysts expect that Mattel will post 1.44 earnings per share for the current year.

Institutional Investors Weigh In On Mattel

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its holdings in shares of Mattel by 2.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 25,795 shares of the company’s stock worth $491,000 after purchasing an additional 693 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Mattel by 3.0% during the third quarter. State of Alaska Department of Revenue now owns 39,484 shares of the company’s stock worth $752,000 after purchasing an additional 1,160 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Mattel during the third quarter worth about $108,000. Brighton Jones LLC bought a new position in Mattel in the 3rd quarter valued at about $228,000. Finally, Blue Trust Inc. raised its position in shares of Mattel by 74.2% in the 3rd quarter. Blue Trust Inc. now owns 3,610 shares of the company’s stock valued at $69,000 after buying an additional 1,538 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.

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.