Mattel (NASDAQ:MAT) Price Target Raised to $24.00

Mattel (NASDAQ:MAT) had its price objective raised by equities research analysts at Citigroup from $22.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 25.93% from the stock’s previous close.

MAT has been the topic of several other research reports. Wall Street Zen raised Mattel from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. DA Davidson reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Mattel in a research note on Thursday, May 15th. Morgan Stanley upped their price target on Mattel from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group lowered their target price on shares of Mattel from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.43.

Mattel Stock Up 1.4%

Shares of MAT stock traded up $0.26 during mid-day trading on Monday, hitting $19.06. The company’s stock had a trading volume of 161,436 shares, compared to its average volume of 3,730,941. Mattel has a 52-week low of $13.95 and a 52-week high of $22.07. The business has a 50-day moving average price of $17.44 and a 200 day moving average price of $18.66. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 2.35 and a beta of 0.66. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.00 and a current ratio of 2.38.

Mattel (NASDAQ:MAT) last posted its earnings results on Monday, May 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.08. The business had revenue of $826.60 million during the quarter, compared to the consensus estimate of $791.49 million. Mattel had a net margin of 10.07% and a return on equity of 25.94%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. Research analysts predict that Mattel will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Mattel

A number of hedge funds have recently added to or reduced their stakes in MAT. AlphaQuest LLC raised its holdings in shares of Mattel by 13.0% during the first quarter. AlphaQuest LLC now owns 4,782 shares of the company’s stock worth $93,000 after purchasing an additional 551 shares during the last quarter. CIBC Asset Management Inc raised its position in Mattel by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 10,962 shares of the company’s stock valued at $194,000 after acquiring an additional 601 shares in the last quarter. Xponance Inc. lifted its holdings in Mattel by 1.6% in the fourth quarter. Xponance Inc. now owns 46,262 shares of the company’s stock valued at $820,000 after acquiring an additional 739 shares during the period. Yousif Capital Management LLC boosted its position in Mattel by 0.7% during the first quarter. Yousif Capital Management LLC now owns 119,902 shares of the company’s stock worth $2,330,000 after purchasing an additional 884 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in Mattel by 7.4% in the 1st quarter. Brighton Jones LLC now owns 12,972 shares of the company’s stock valued at $252,000 after acquiring an additional 890 shares during the period. 97.15% of the stock is currently owned by 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.