Mattel (NASDAQ:MAT) Reaches New 52-Week High After Better-Than-Expected Earnings

Shares of Mattel, Inc. (NASDAQ:MAT) hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $21.35 and last traded at $21.22, with a volume of 2233923 shares changing hands. The stock had previously closed at $18.07.

The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.15. Mattel had a net margin of 10.24% and a return on equity of 25.39%. During the same quarter last year, the company posted $0.29 EPS.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MAT. StockNews.com downgraded shares of Mattel from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Morgan Stanley boosted their price objective on shares of Mattel from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Bank of America boosted their price objective on shares of Mattel from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. DA Davidson reaffirmed a “buy” rating and set a $27.00 price objective on shares of Mattel in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Hedge Funds Weigh In On Mattel

Institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of Mattel by 584.3% in the third 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 last quarter. V Square Quantitative Management LLC acquired a new position in shares of Mattel in the third quarter valued at $29,000. Prospera Private Wealth LLC acquired a new position in shares of Mattel in the third quarter valued at $34,000. West Oak Capital LLC increased its holdings in shares of Mattel by 9,775.0% in the fourth quarter. West Oak Capital LLC now owns 1,975 shares of the company’s stock valued at $35,000 after purchasing an additional 1,955 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Mattel by 38.3% in the third quarter. GAMMA Investing LLC now owns 2,797 shares of the company’s stock valued at $53,000 after purchasing an additional 775 shares during the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.

Mattel Stock Performance

The company’s fifty day simple moving average is $18.42 and its 200 day simple moving average is $18.80. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 0.88 and a beta of 0.76. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 1.01.

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.