Mattel (NASDAQ:MAT) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Mattel (NASDAQ:MAT) from a sell rating to a hold rating in a research report released on Wednesday morning, BidAskClub reports.

Several other research firms have also recently weighed in on MAT. Cfra reiterated a hold rating on shares of Mattel in a report on Friday, July 19th. DA Davidson reiterated a neutral rating on shares of Mattel in a report on Tuesday, July 30th. Stifel Nicolaus dropped their price objective on Mattel from $14.00 to $13.50 and set a hold rating for the company in a report on Tuesday, October 1st. UBS Group dropped their price objective on Mattel from $13.00 to $10.00 and set a neutral rating for the company in a report on Thursday, September 5th. Finally, SunTrust Banks dropped their price objective on Mattel to $12.00 and set a hold rating for the company in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $13.81.

MAT traded up $0.38 on Wednesday, hitting $11.03. 711,485 shares of the company were exchanged, compared to its average volume of 3,458,377. The firm has a fifty day simple moving average of $10.57 and a two-hundred day simple moving average of $11.62. The company has a debt-to-equity ratio of 6.78, a quick ratio of 1.11 and a current ratio of 1.78. Mattel has a 12 month low of $9.06 and a 12 month high of $17.26. The stock has a market capitalization of $3.68 billion, a PE ratio of -9.67 and a beta of 1.68.

Mattel (NASDAQ:MAT) last released its quarterly earnings data on Thursday, July 25th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.10. Mattel had a negative return on equity of 28.70% and a negative net margin of 6.00%. The business had revenue of $860.10 million during the quarter, compared to analysts’ expectations of $822.24 million. During the same quarter last year, the business posted ($0.56) EPS. The business’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts expect that Mattel will post -0.57 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. State Treasurer State of Michigan grew its stake in shares of Mattel by 2.7% during the second quarter. State Treasurer State of Michigan now owns 102,261 shares of the company’s stock valued at $1,146,000 after buying an additional 2,700 shares during the last quarter. Allstate Corp purchased a new stake in shares of Mattel during the 1st quarter valued at $161,000. Comerica Bank increased its position in shares of Mattel by 170.2% in the 2nd quarter. Comerica Bank now owns 204,944 shares of the company’s stock valued at $2,416,000 after acquiring an additional 129,093 shares during the period. Parametric Portfolio Associates LLC grew its position in Mattel by 7.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,189,943 shares of the company’s stock worth $13,339,000 after purchasing an additional 79,928 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in Mattel by 64.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 174,749 shares of the company’s stock worth $1,959,000 after purchasing an additional 68,499 shares during the period.

About Mattel

Mattel, Inc, a children's entertainment company, designs and produces toys and consumer products worldwide. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, content, gaming, and lifestyle products for children under the Barbie brand; diecast cars, tracks, playsets, and play products for kids, adults, and collectors under the Hot Wheels brand name; content, toy, live events, and other lifestyle products under the Fisher-Price and Thomas & Friends brands; and dolls and books under the American Girl brand name.

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Analyst Recommendations for Mattel (NASDAQ:MAT)

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